Had a quick skim & looks to be very in depth, will read properly later, thanks for the link to the site. What's your thoughts on the charts considering manipulation though? For me a biggest pullback would be to the 71-76 trendline. Keeping in mind it's only old mines that run at low operating costs below $250/oz. Most resent are operating around $500/oz & future mines are looking around $700-800/oz so a pullback to $900ish won't impact future mine development. Parts of Africa are finding shallow gold but others in PNG, SA, Sth America are deeper, although the size of these deposits are very large.
Short of gold, yes but not short on gold. Gold needs to pullback in the short term but to the current trend line perhaps. If it falls past 1275 then I'll definitely try to short it.
Haha yeah I'm with you know. Maybe I could balance 20 x 1oz coins end to end, the maybe balls deep! Slow on the uptakeright now, trying to watch national lampoons while on iPhone plus discuss my wires NYC trip....blokes can multiple task when we want to.
For my two cents looking at US fiat as the Gold value benchmark is plain folly. We all know the US system has some serious issues going on. So when a spike of confidence returns as it has recently the price of PM's will naturally decreases along with it. So too, the value of the AUD. So the trick is to buy as much as you can while the dollar is in a strong position & forget the small percentage swings. Strong Chinese & Indian demand for PM's will eventually drive the price skyward anyway.
The current drop in Gold/Silver price is NOT a crash in any stretch of imaginations... I call this a Correction rather than a Crash. Gold so far only down by 5.7% from it's high, while silver is down 12%. We had much severe corrections in the past 10 years.
It is hard to say, I really can't see it going below $1100, but anything is possible, There is a lot of money just waiting for a big correction that potentially any drop to those levels will be very short lived. As far as manipulation, the market is uncontrollable, in the grand scheme of things a market will go where it is going to go and no amount of manipulation will ever be able to hold it back, if anything, trying to hold it back only builds more pressure which eventually overpowers those that try to hold it back, which I reckon will only add to the upside potential. So please JP Morgan and co manipulate away, you are doing us all a big favour.. Ps cheers for the cheap silver :lol: If Armstrongs writings go as he says, well then I will sell every possession that I have (Except my PM's) and stick the whole lot into the solid stuff.
For anyone who's interested in Gerald Celente's views: From his twitter feed http://twitter.com/geraldcelente As forecast, gold proved to show more weakness than strength. Now well below our $1360 breakout point. Next test is $1322, then $1290. 11:07 AM Jan 20th via web As many have said here, the 'fundamentals' from my point of view is gold and silver are the safest way to store savings. Price may fall or rise but over time PMs can buy the food, clothing and shelter you require. Digital figures on a screen in a derivatives market don't have that insurance. PMs to me are a way to extract myself from the influence of the moneylenders and usurers, fraudsters and thieves. Save it. Spend it as you need. I had to visit Southland (a Melbourne mall shopping centre for out of state readers). It was not busy and shopping assistants swooped like seagulls on a chip the moment I paused to look at prices on goods in the doorways. I came away with the firm thought that anyone not buying gold and silver now is misguided, regardless of temporary drops and lifts in its international bankster determined price.
I enjoy reading Armstrong's writings about history, but I have not found his short term timing to be useful.
I just listened to a video from James Turk about gold going to $8k. I then looked him up on google to find that he has a gold selling business. Who do people here consider the best forecasters and analysts in PMs. ie. who on earth do you listen to for as close to unbiased opinion as you can find. (b.t.w Turk sounds convincing)
Its difficult and i think you cant .... all the super bulls have vested interests so its hard for them to be subjective. You need to look at the charts, the news (all sorts) and history and then finally read others opinions otherwise its to hard, its all conflicting So my answer really is just do your research and trust yourself.... Just think of all the BULLS, they all have alot of their own interests in gold and silver too
It only makes sense that those who are heavily bullish in PM's would get into PMs heavily. I think most people would lose their subjectiveness once they have bought in. The whole area of PMs is so emotive, that getting true unbiased advice or recommendations in either direction seems very difficult.
Turk is hopeless - his long term predictions for major moves in the silver market are alway off by several hours...
Yes, that's what I mean. By my own readings I believe in the fundamentals, but I'm cynical enough to believe that all the markets are rigged by big players - least of all the gold and silver markets. I know it's impossible for gold to again fall to 200ish dollars and stay there for ten years but then again, THEY wanted it there for that time and there's no reason THEY won't put it back there. Who needs fiat if gold is worth so much? Looking at the Dow:Gold ratio, back in 1980 it was one to one and we're heading there again I agree. That puts gold somewhere around $5k an ounce - but after that? So do you buy the Dow x your number of ounces at that point, or keep it buried in the backyard for 20 years waiting for the next bull market? Job opportunity for someone here: A consultancy trading people's gold into assets like real estate and blue chip stocks. It will be a growth area in a few years.
I find i been doing so much research lately that i'm more confused than ever. I think the best person to listen to is "you" What i mean is... i got into silver on gut instinct. My aim was to have money in case the currencies collapsed. but the more i studied, the more i started to think that if currencies do collapse then wealth will transfer and new currencies would form (hopefully backed by gold). but if this happens then who is to say that gold won't go back to $100 an oz. Now i think f@#k it!... i got into silver on gut and i will get out on gut. When it feels right to sell up then do it I think over analyzing things can make things worse. I know this dosn't come across as very investment like... but hey... it got me into silver.
They may be rigged to some extent but only within general trends I believe. ie. gold was going down anyway between 1980 and 1999, they just helped push it lower with Central Bank sales and such. If they could have kept Gold down in the 2000's they would have. And the more you force something down the more it goes to the upside and vice versa. Same with the housing market, it get's manipulated but gravity takes over at some point. The higher it is manipulated upward the harder the crash. Never make the mistake of thinking the govt or anyone else is omnipotent. The general trend is up for now in PM's and will be for a little while longer, until, I believe, the crisis has passed.
Calm down folks................ come back in 6-12 months & chat. Also keep some baked beans & bottled water & batteries handy. checked your insurance policy for "flood" defintion? Stock up on popcorn & enjoy the ride. You can only control a certain % of you life.
Whats the biggest piece of information that you think you will see that says the crisis has passed ? Or atleast side stepped in such a way that its better to put money else where (for the time being) until the crisis is an immediate threat again.
