The Gold and Silver Thread

[Toro]

I have been a buyer of silver.

Libya might cause a bit of a pullback, but I would be a buyer on any weakness. The technical buying over the past two weeks has been very impressive.

Interestingly, oil is down suggesting that Libya may have no impact and we are continuing the trend of August.

 

[Mad Scientist]

I have been a buyer of silver.

Libya might cause a bit of a pullback, but I would be a buyer on any weakness. The technical buying over the past two weeks has been very impressive.

Interestingly, oil is down suggesting that Libya may have no impact and we are continuing the trend of August.

I just bough 8 more ounces of Sliver myself. Gold is out of my range for now, though maybe I should buy grams?

Speaking of Gold, you think Qaddafi's 144 tons of Gold will affect the market?:
The Battle For Libya Is Almost Over… As Is The Battle For Its 144 Tons Of Gold « InvestmentWatch – The best source of news, analysis, and intelligent discussion

 

[KissMy]

I have been a buyer of silver.

Libya might cause a bit of a pullback, but I would be a buyer on any weakness. The technical buying over the past two weeks has been very impressive.

Interestingly, oil is down suggesting that Libya may have no impact and we are continuing the trend of August.

There is some serious money to be made in the WTI crude - Brent/ Light Louisiana Sweet crude oil SPREAD of $23 - $25. I think the spread will collapse & Libya might kick it off.

 

[Toro]

I have been a buyer of silver.

Libya might cause a bit of a pullback, but I would be a buyer on any weakness. The technical buying over the past two weeks has been very impressive.

Interestingly, oil is down suggesting that Libya may have no impact and we are continuing the trend of August.

I just bough 8 more ounces of Sliver myself. Gold is out of my range for now, though maybe I should buy grams?

Speaking of Gold, you think Qaddafi's 144 tons of Gold will affect the market?:
The Battle For Libya Is Almost Over… As Is The Battle For Its 144 Tons Of Gold « InvestmentWatch – The best source of news, analysis, and intelligent discussion

I like silver better than gold right here. Gold has run very hard, very fast. Silver has been consolidating.

 

[KissMy]

Tripoli falls to Libyan rebels

This will have the same impact on Gold & Silver prices as the Killing of Osama. It will be to a lesser degree of course.

Oil, Gold & Silver will fall. Dollar & Euro rally. Stocks up.

Gold was at $1,880 on KITCO when the story broke. It is now at $1,868.

 

[Toro]

Tripoli falls to Libyan rebels

This will have the same impact on Gold & Silver prices as the Killing of Osama. It will be to a lesser degree of course.

Oil, Gold & Silver will fall. Dollar & Euro rally. Stocks up.

Gold was at $1,880 on KITCO when the story broke. It is now at $1,868.

One would think it would be bad for precious metals. But they are holding in pretty well. Let's see what Monday brings.

 

[KissMy]

Keeping interest rates low at least until 2013 will add more money to the system than QEII did. This is definatly QEIII & Gold will continue to climb.

 

[editec]

They keep interest rates low yet nobody except the truly wealthy can borrow.

Nice game, eh?

 

[KissMy]

BLOOMBERG just announced that Gold (GLD) is now the worlds second largest ETF behind the S&P 500 ETF & in weeks GOLD will be the worlds largest ETF.

 

[editec]

NEW YORK SPOT PRICES

Gold dropped down to 1858.50 (or so) by and climbed back up to about $1870 in the last half hour or so.

I presume, given the above post, that volume of trading is rather high.

 

[Ernie S.]

No, Glenn Beck told me to buy gold.

Beck was right, huh?
$1903.20. Who knew?

 

[Jos]

Right now, I would suggest selling Gold to buy Platinum (DYODD)

 

[KissMy]

GLD, For Now, Is World’s-Biggest ETF

The market upheaval this month has led investors into gold and out of equities in such force that the physical bullion fund, SPDR Gold Shares (GLD), has for now eclipsed for the first time the SPDR S&P 500 ETF (SPY) as the world’s-biggest exchange-traded fund.

As of last Friday, GLD had $76.67 billion and SPY had $74.38 billion, according to data compiled by IndexUniverse. GLD’s rapid rise in assets reflects powerful inflows as well as spiking prices, just as SPY’s declining assets reflect outflows as well as the S&P 500’s 10 percent price slide this month.

Comex gold futures settled on Friday at a fresh record of $1,848.90 a troy ounce, just as the S&P 500 Index slid 1.5 percent to 1123.53. In terms of flows so far this month, GLD has raked in $1.5 billion, while SPY has bled more than $7 billion in assets, according to data compiled by IndexUniverse.

GLD has captured more than $1 billion in the past two sessions, during which time the S&P 500 has fallen more than 5 percent.

GLD ETF certificates can now be considered a gold backed currency. If you need to buy something from far away with gold you can simply transfer the GLD ETF electronically. Fiat currencies will soon be history. Gold has been upgraded to Tier 1 asset class & the US dollar has been downgraded below AA. You can even use gold as collateral for loans.

 

[HenryBHough]

Arsenic is a strategic metal. It's used to strengthen copper and to make the lead plates used in automobile batteries. Nobody has paid much attention to its' dramatic increase in price in recent months. It even has household uses, especially if Obama gets re-elected and one can no longer afford food or housing. Main problem is secure storage as, should the aforementioned happen, the hordes will be breaking down your door if they know you have it.

 

[Toro]

GLD, For Now, Is World’s-Biggest ETF

The market upheaval this month has led investors into gold and out of equities in such force that the physical bullion fund, SPDR Gold Shares (GLD), has for now eclipsed for the first time the SPDR S&P 500 ETF (SPY) as the world’s-biggest exchange-traded fund.

As of last Friday, GLD had $76.67 billion and SPY had $74.38 billion, according to data compiled by IndexUniverse. GLD’s rapid rise in assets reflects powerful inflows as well as spiking prices, just as SPY’s declining assets reflect outflows as well as the S&P 500’s 10 percent price slide this month.

Comex gold futures settled on Friday at a fresh record of $1,848.90 a troy ounce, just as the S&P 500 Index slid 1.5 percent to 1123.53. In terms of flows so far this month, GLD has raked in $1.5 billion, while SPY has bled more than $7 billion in assets, according to data compiled by IndexUniverse.

GLD has captured more than $1 billion in the past two sessions, during which time the S&P 500 has fallen more than 5 percent.

GLD ETF certificates can now be considered a gold backed currency. If you need to buy something from far away with gold you can simply transfer the GLD ETF electronically. Fiat currencies will soon be history. Gold has been upgraded to Tier 1 asset class & the US dollar has been downgraded below AA. You can even use gold as collateral for loans.

Stuff like this scares me. It reminds of all the money going into the tech bubble or into private equity in 2006.

But it means that there is a parabolic stage coming. Maybe we're in it.

 

[FireFly]

GLD, For Now, Is World’s-Biggest ETF
GLD ETF certificates can now be considered a gold backed currency. If you need to buy something from far away with gold you can simply transfer the GLD ETF electronically. Fiat currencies will soon be history. Gold has been upgraded to Tier 1 asset class & the US dollar has been downgraded below AA. You can even use gold as collateral for loans.

Stuff like this scares me. It reminds of all the money going into the tech bubble or into private equity in 2006.

But it means that there is a parabolic stage coming. Maybe we're in it.

We are & this currency will grow until the Fed lets rates rise. This is not the 1970's. We are in deep shit.

 

[Toro]

Gold is at $1910.

It's going to $2000. I wonder if it will do that by Bernanke's speech on Friday then sell off on the news?

 

[Trajan]

Gold is at $1910.

It's going to $2000. I wonder if it will do that by Bernanke's speech on Friday then sell off on the news?

unreal. things must be bad, very bad and is beginning to make itself a fait accompli amongst the bowels of the EU puzzle palace aside from just our issues, I thought we'd have a modest pull back and reset in gold, and thought, 2K as I said last week by Christmas.

and as i have noted a while ago, thew late 70s inflation adjusted gold price was like, 2250?.....and I have to say it appears to me, this contagion is worse, by far.

when a schmuck like me makes a 100% gain on a commodity, things are jacked....

 

[Toro]

Don't assume gold going to the moon is necessarily indicative of bad things. It is to some extent, but these things take a life of their own. When things go parabolic, they usually do so on perceptions that do not correspond to fundamentals - think tech stocks and housing prices. My job as a trader and investor is to be able to differentiate between what is real and what is hype. There is little doubt in my mind that the end game for gold and silver will be all hype. Whether that is now, however, is open to question. Though I believe gold has gotten ahead of itself, I'm guessing there are more gains ahead after the inevitable correction.

FTR, I am heavily long silver, and got so last week and the week prior. But I will be gone in an instant if I think the trade is breaking down. Because when it ultimately breaks down, it will be extremely ugly.

 

[Trajan]

Don't assume gold going to the moon is necessarily indicative of bad things. It is to some extent, but these things take a life of their own. When things go parabolic, they usually do so on perceptions that do not correspond to fundamentals - think tech stocks and housing prices. My job as a trader and investor is to be able to differentiate between what is real and what is hype. There is little doubt in my mind that the end game for gold and silver will be all hype. Whether that is now, however, is open to question. Though I believe gold has gotten ahead of itself, I'm guessing there are more gains ahead after the inevitable correction.

FTR, I am heavily long silver, and got so last week and the week prior. But I will be gone in an instant if I think the trade is breaking down. Because when it ultimately breaks down, it will be extremely ugly.

I understand and agree they at some point become driven by their own innate momentum, fear, indecision and euphoria.


commodities have imho take on a life of their own and are being fully propelled and are driven by the momentum gained by nations taking advantage of Bernbanks money manipulation, the latest announcement will just fuel it further, ex; south America is enjoying a boom in farm commodities exports, gold is no different in that it has been subjected to a rocket booster driven by same ( plus the EU and their issues) ....when will it end? Beats me, BUT, I have a buyer set for the whole load and my new chicken shit number burned into my mind.