The Gold and Silver Thread

[EdwardBaiamonte]

Toro, I may be wrong but I thought junk gold conversion rates were keeping gold prices low. As that source of supply dries up I would expect gold prices to rise.

and evidence to support that position??

 

[william the wie]

Toro, I may be wrong but I thought junk gold conversion rates were keeping gold prices low. As that source of supply dries up I would expect gold prices to rise.

and evidence to support that position??

McAlvaney and a few other hard currency newsletters I follow have been making that claim:

What is known is that the rates of junk gold purchase have been slowing down for about a year.

The purchases of bullion and coins have not been slowing down and gold mining employment is increasing more slowly than purchases.

What is unknown are the trigger prices for reopening abandoned mines and total junk gold inventories.

 

[EdwardBaiamonte]

Toro, I may be wrong but I thought junk gold conversion rates were keeping gold prices low. As that source of supply dries up I would expect gold prices to rise.

and evidence to support that position??

McAlvaney and a few other hard currency newsletters I follow have been making that claim:

What is known is that the rates of junk gold purchase have been slowing down for about a year.

The purchases of bullion and coins have not been slowing down and gold mining employment is increasing more slowly than purchases.

What is unknown are the trigger prices for reopening abandoned mines and total junk gold inventories.

the housing scare and obama scare is over so gold is stuck in place and not likely to move much except slowly with the economy as it moves up or down.

 

[Toro]

In April 2011, silver hit $49.76 and gold hit $1921. Today, silver is trading at $23.19 and gold $1395. Silver has since fallen by 53% and gold 27%.

Gold and silver are commodities. They aren't a religion.

 

[editec]

Gold and silver work as excellent indicators for public confidence regarding the economy.

At best they are a lifeboat for those with spare capital who are confident that inflation is eroding purchasing power for their money.

 

[KissMy]

China just blew up the worlds biggest property bubble. Chinese Government is imposing a new 20 percent tax on profits from housing sales of second home. Chinese people are rapidly selling homes ahead of the tax. Divorce filings shot up across China after rumors spread that one way to avoid the new 20 percent tax on profits from housing sales was to separate from a spouse, at least on paper.

NYT: In China, Checklist for a Home Seller: First, Get a Divorce

All the rush to sell second homes in China is crashing the housing market. This has crashed the commodities market globally. Government's can't print enough money to stop the deflationary spiral that is now taking hold. Gold & Silver are correcting just like all commodities did here late 2008. Then they will bounce when the spiral hits bottom.

 

[editec]

China just blew up the worlds biggest property bubble. Chinese Government is imposing a new 20 percent tax on profits from housing sales of second home. Chinese people are rapidly selling homes ahead of the tax. Divorce filings shot up across China after rumors spread that one way to avoid the new 20 percent tax on profits from housing sales was to separate from a spouse, at least on paper.

NYT: In China, Checklist for a Home Seller: First, Get a Divorce

All the rush to sell second homes in China is crashing the housing market. This has crashed the commodities market globally. Government's can't print enough money to stop the deflationary spiral that is now taking hold. Gold & Silver are correcting just like all commodities did here late 2008. Then they will bounce when the spiral hits bottom.

Molly bar the door if China's economy goes down!

No I am not shitting here, I am agreeing with you.

What this world surely does not need right now is a CHINESE government at risk of the people rising up because their economy is fibrilating.

The Chinese, unlike we Americans, understand the concept of REVOLUTION

 

[KissMy]

European banks are also selling a lot of gold to remain solvent. This & China pressure is a double hit to Gold recently.

 

[Oddball]

Market correction....Buy!

 

[hjmick]

Market correction....Buy!

Wait...

 

[CrusaderFrank]

China just blew up the worlds biggest property bubble. Chinese Government is imposing a new 20 percent tax on profits from housing sales of second home. Chinese people are rapidly selling homes ahead of the tax. Divorce filings shot up across China after rumors spread that one way to avoid the new 20 percent tax on profits from housing sales was to separate from a spouse, at least on paper.

NYT: In China, Checklist for a Home Seller: First, Get a Divorce

All the rush to sell second homes in China is crashing the housing market. This has crashed the commodities market globally. Government's can't print enough money to stop the deflationary spiral that is now taking hold. Gold & Silver are correcting just like all commodities did here late 2008. Then they will bounce when the spiral hits bottom.

Molly bar the door if China's economy goes down!

No I am not shitting here, I am agreeing with you.

What this world surely does not need right now is a CHINESE government at risk of the people rising up because their economy is fibrilating.

The Chinese, unlike we Americans, understand the concept of REVOLUTION

The Chinese, unlike we Americans, are unarmed.

You might also want to Google "American Revolution" you might learn something

 

[Oddball]

Market correction....Buy!

Wait...

The ratios still make silver the better buy.

 

[Mad Scientist]

In April 2011, silver hit $49.76 and gold hit $1921. Today, silver is trading at $23.19 and gold $1395. Silver has since fallen by 53% and gold 27%.

Gold and silver are commodities. They aren't a religion.

See, there ya' go calling Gold and Silver "Commodities" again!

Massive $20 Billion Paper Gold Sell Orders Trigger Stop Loss Selling And Unfounded Panic | Max Keiser

Investment banks and hedge fund speculators can manipulate the paper or futures gold price in whichever direction they want in the short term due to the massive 20 to 1 leverage they can utilise and that is what was clearly seen on Friday.

Mish's Global Economic Trend Analysis: Marc Faber "I love the Fact that Gold is Finally Breaking Down"; Gold vs. Apple; Patience, Gold, Japan

I love the markets. I love the fact that gold is finally breaking down. That will offer an excellent buying opportunity. I would just like to make one comment. At the moment, a lot of people are knocking gold down. But if we look at the records, we are now down 21% from the September 2011 high. Apple is down 39% from last year’s high. At the same time, the S&P is at about not even up 1%from the peak in October 2007. Over the same period of time, even after today’s correction gold is up 100%. The S&P is up 2% over the March 2000 high. Gold is up 442%. So I am happy we have a sell-off that will lead to a major low. It could be at $1400, it could be today at $1300, but I think that the bull market in gold is not completed.

 

[Toro]

Market correction....Buy!

Did you?

 

[Toro]

This is a market crash for precious metals.

 

[KissMy]

The US raised taxes & cut spending. This lowered the annual deficit. = Bad for Gold.

China imposed taxes on second homes popping the worlds biggest housing bubble. = Bad for Gold.

Cypress & other European Banks selling gold to remain solvent. = Bad for Gold.

The large move in Gold has triggered a margin increase / lower gold leverage. = Bad for Gold.

 

[EdwardBaiamonte]

The US raised taxes & cut spending. This lowered the annual deficit. = Bad for Gold.

China imposed taxes on second homes popping the worlds biggest housing bubble. = Bad for Gold.

Cypress & other European Banks selling gold to remain solvent. = Bad for Gold.

The large move in Gold has triggered a margin increase / lower gold leverage. = Bad for Gold.

good government is bad for gold. The mystery is why so many think the world has better government now than a few years ago. I suppose conservatives ought to be buying gold with the USA now as liberal as Europe.

 

[Toro]

The technical play book says to short all rallies in precious metals up to $1520 in gold and $26 in silver.

 

[editec]

Shoot folks.

If you have some spare lucre, put a couple more tanks for heating oil or propane.

Better still, invest in getting you home off the grid or making your lifestyle more energy efficient.

 

[EdwardBaiamonte]

Shoot folks.

If you have some spare lucre, put a couple more tanks for heating oil or propane.

you make perfect sense, as usual, given the that we just disovered 200 years supply on our own continent!! You may be the only person on earth not to know that!