ahosang 0 Posted December 23, 2010 Share Posted December 23, 2010 It depends on your time frame and the way you invest in the metal. I invest on the discovery to production end which by it's nature is boom or bust but what I know best.Holding the actual metal as an alternative currency is not my thing but it is reasonable but going to the far end of the ideological spectrum the end of the world, bomb-shelter type arguments are a bit batty.Lol, you're the one walking around with 3 ping-pong balls in your mouth...But seriously, I was trying to say that gold only loses value in an Armageddon scenario. Link to post Share on other sites
Don Giovanni 0 Posted December 24, 2010 Share Posted December 24, 2010 Lol, you're the one walking around with 3 ping-pong balls in your mouth...But seriously, I was trying to say that gold only loses value in an Armageddon scenario.how does it lose money in an armageddon scenario? thats when it gains value the most. i think youre saying that only food and water will matter then, but there will always be a use for a placeholder of wealth, and in that case gold and other precious metals will be the only things accepted. people cant just carry huge stores of food and water around with them, so they need something like gold to transport and use to purchase real goods, even in an end of the world scenario. gold GAINS value the worse everything with fiat currencies becomes. just look at Zimbabwe right now. their currency is useless and valueless, and they might as well be in armageddon, and the people there are going into the hills to mine for gold because its the only currency accepted. THAT is the definition of a safe and stable currency people.the only thing that devalues gold is an increase in supply, but that happens slowly and is limited. Link to post Share on other sites
ahosang 0 Posted December 25, 2010 Share Posted December 25, 2010 how does it lose money in an armageddon scenario? thats when it gains value the most. i think youre saying that only food and water will matter then, but there will always be a use for a placeholder of wealth, and in that case gold and other precious metals will be the only things accepted. people cant just carry huge stores of food and water around with them, so they need something like gold to transport and use to purchase real goods, even in an end of the world scenario. gold GAINS value the worse everything with fiat currencies becomes. just look at Zimbabwe right now. their currency is useless and valueless, and they might as well be in armageddon, and the people there are going into the hills to mine for gold because its the only currency accepted. THAT is the definition of a safe and stable currency people.the only thing that devalues gold is an increase in supply, but that happens slowly and is limited.But I meant absolute value vs food & water & energy, not value vs other money(obviously I know gold rises massively against fiat currency - that's what I've been saying).But the bolded in your post is what I mean by gold losing value in Armageddon, because as a placeholder for decreased total wealth(as happens in Armageddon), the gold is devalued. Link to post Share on other sites
Don Giovanni 0 Posted December 26, 2010 Share Posted December 26, 2010 But I meant absolute value vs food & water & energy, not value vs other money(obviously I know gold rises massively against fiat currency - that's what I've been saying).But the bolded in your post is what I mean by gold losing value in Armageddon, because as a placeholder for decreased total wealth(as happens in Armageddon), the gold is devalued.no i mean absolute value vs food and water too. watch some videos on youtube about people in zimbabwe right now mining for gold with their hands because their currency is worthless. thats no rich and developed society. they barely have food and water yet they still mine for gold and use it in trade. so just because there is not much material wealth in an area does not mean that gold is in any way devalued in real or absolute terms. Link to post Share on other sites
ahosang 0 Posted December 26, 2010 Share Posted December 26, 2010 no i mean absolute value vs food and water too. watch some videos on youtube about people in zimbabwe right now mining for gold with their hands because their currency is worthless. thats no rich and developed society. they barely have food and water yet they still mine for gold and use it in trade. so just because there is not much material wealth in an area does not mean that gold is in any way devalued in real or absolute terms.Yes I've seen the youtube videos and read the reports before, 0.1g of gold to buy 1 loaf of bread. I bet 0.1g of gold could get probably 10 loaves pre-2000. The Zimbabwe case is sort of proving my point. Also watch the first minute and listen clearly to what is said. I paraphrase slightly:"The vendors are charging exorbitant prices(in gold!!) for the food. Up to 4x the going rate(in US$), but people are too angry and desperate to refuse them"This confirming the 2009 prices of bread loaves in Zimbabwe. The video is originally from 2009 but actually the prices are something like maybe 6x the rate according to some prices of commodities at the same period. So localized Armageddon is causing gold to be devalued in reality against foodstuff. Armageddon means food security is an issue, and there is a premium on procurement of food & water.Also Zimbabwe is not a closed system of Armageddon. It is linked fairly easily to the outside world, and the external gold market(a bridge to the nice fluffy comfy world) meaning the vendors have an easy outlet for reselling the gold for realisable profit. Increase the Armageddon scenario there(making outside contact more difficult) and that gold loses even more value for those villagers... Link to post Share on other sites
aucu 3 Posted December 29, 2010 Share Posted December 29, 2010 Back up over $1410 today, looking to close the year up $300 Link to post Share on other sites
aucu 3 Posted January 25, 2011 Share Posted January 25, 2011 Gold is down just over 5% since the beginning of the year sitting at $1335 today. Got to be short term bearish now and expect the POG to go down the 10% needed to be a full blown correction. Long positions are evaporating, ETFs have an outflow, Indian buying is in an expected seasonal low and there is a general loss of buzz on the street. Link to post Share on other sites
ahosang 0 Posted January 25, 2011 Share Posted January 25, 2011 Gold is down just over 5% since the beginning of the year sitting at $1335 today. Got to be short term bearish now and expect the POG to go down the 10% needed to be a full blown correction. Long positions are evaporating, ETFs have an outflow, Indian buying is in an expected seasonal low and there is a general loss of buzz on the street.Ok, and silver is usually on similar trend as gold. I'm shorting the silver at the moment, having been a buyer and made tiny profit on those waves, since november.You think gold will fall to say $1275 then? Link to post Share on other sites
aucu 3 Posted January 25, 2011 Share Posted January 25, 2011 Ok, and silver is usually on similar trend as gold. I'm shorting the silver at the moment, having been a buyer and made tiny profit on those waves, since november.You think gold will fall to say $1275 then?I believe gold could easily hit the $1200s so your figure or even lower are very possible. Still looks overbought IMO. Link to post Share on other sites
nutzbuster 7 Posted January 26, 2011 Share Posted January 26, 2011 I'm amazed...but trees don't grow to the sky.How much air is left in this balloon? Link to post Share on other sites
Balloon guy 158 Posted January 26, 2011 Share Posted January 26, 2011 Air in a balloon is going to outlast helium because air is 60% nitrogen which is the largest gas, and helium is the smallest.Latex stretches by tearing, so small holes are created on latex balloons, allowing helium to escape quickly. A helium balloon 11" round will last about 12 hours, but an air filled balloon will last up to two weeks. Link to post Share on other sites
mtdesmoines 3 Posted January 27, 2011 Share Posted January 27, 2011 I'm amazed...but trees don't grow to the sky.How much air is left in this balloon?Owning gold isn't like an investment in a stock. With a stock, your investment can go up because of market conditions, new inventions, innovations, .. something that people are DOING in the company or sector you've invested in. So you can add value in many ways, and lose in many ways, too. Gold is a much different thing. Gold isn't going to invent anything that increases its profitability or market share. Gold just is. Theoretically, gold as an investment is a refuge for value, since gold has for all human history been a standard by which value is measured. Put another way, yesterday, a dollar was worth xxx ounces of gold. Today, it is worth xxxx ounces of gold. So when the dollar is falling, gold is a good thing because it seems to be going up. Same with corn and oil. But as the dollar strengthens, the prices of these commodities will fall and many investors will be wondering why they lost money.To answer your question, as long as the deficit rises and the American economy is in the tank, and nations are looking for ways to retreat from the US Dollar, the price of gold in terms of dollars is going to go up, and seem like a good investment. When economic and governmental conditions change for the better in the US, gold is going to reset and seem like a bad investment. Link to post Share on other sites
aucu 3 Posted January 29, 2011 Share Posted January 29, 2011 Interesting story on how and what can move the gold market.http://www.zerohedge.com/article/meet-man-...lew-gold-marketMeet The Man Behind The Liquidating Hedge Fund That Blew Up The Gold MarketSubmitted by Tyler Durden on 01/28/2011 10:31 -0500Over the past several weeks there had been rumors that the reason for the precipitous drop in gold was primarily driven by a hedge fund liquidating its futures positions. This has now been confirmed: "Yeah, that was just me liquidating my spread position," Mr. Daniel Shak, [of SHK Asset Management] 51 years old, said in an interview. "I had a significant, fully margined position. The dollar amount of the gold liquidation was very small, it was just a lot of contracts." Of course in the extremely jittery gold market, the kind of persistent marginal gross selling of contracts was all that was needed to spook weak hands into a consistent dump of the precious metal, which as we pointed out was beyond overdone. Judging by this morning's jump in the PM complex, SHK's liquidation is now not only over but about to promptly reverse as daytrading momos realize they were duped by one single guy. Look for gold to resume its upward advance as investors realize that the gold dump was nothing more than an ongoing futures position liquidation.More from the WSJ:A huge trade by a tiny hedge fund has sent shudders through the gold market.Thanks to the nature of futures trading, Daniel Shak's $10 million hedge fund held gold contracts valued at more than $850 million, more than 10% of the main U.S. futures market, and the equivalent of South Africa's annual gold production.But as gold prices started falling this year, the trade, which was a combination of being long and short gold contracts—bets that prices will both rise and fall—started going bad. Monday, he liquidated his position, and is returning money to clients.As a result, the number of gold contracts on CME Group Inc.'s Comex division plunged more than 81,000, to about 500,000, the biggest single reduction ever. While his trade didn't account for all of the contracts, an average daily move is about 3,000 to 5,000 contracts.ARTICLE CONTINUED AT LINK ABOVE Link to post Share on other sites
nutzbuster 7 Posted January 29, 2011 Share Posted January 29, 2011 IN!best gold fund/stock at the moment?I have 5K burning a hole in my Roth Link to post Share on other sites
El Guapo 8 Posted January 29, 2011 Share Posted January 29, 2011 Gold is very heavily institutionally traded right now. I know a lot of smart people who are shorting gold heavily right now. Link to post Share on other sites
loogie 115 Posted January 29, 2011 Share Posted January 29, 2011 It's like you guys have never heard of alchemy.Suckers. Link to post Share on other sites
aucu 3 Posted January 29, 2011 Share Posted January 29, 2011 Gold is very heavily institutionally traded right now. I know a lot of smart people who are shorting gold heavily right now.Hard to argue with, the POG could easily slide for a month or two. Unless more countries start or continue to implode. Link to post Share on other sites
nutzbuster 7 Posted January 29, 2011 Share Posted January 29, 2011 OUTHellooooo Alcoa Link to post Share on other sites
aucu 3 Posted February 21, 2011 Share Posted February 21, 2011 Hard to argue with, the POG could easily slide for a month or two. Unless more countries start or continue to implode.POG up to $1407 today on news of more countries imploding.http://af.reuters.com/article/metalsNews/i...E68E0P820110221 Link to post Share on other sites
aucu 3 Posted March 1, 2011 Share Posted March 1, 2011 POG was within $3 of the all time high this morning. Link to post Share on other sites
MixedGameMaster 0 Posted March 1, 2011 Share Posted March 1, 2011 Seems POG is doing quite well lately. Going to wait for a slight correction. Link to post Share on other sites
Pot Odds RAC 23 Posted March 1, 2011 Share Posted March 1, 2011 POG was within $3 of the all time high this morning.Pretty amazing. I don't know which curve is steeper the up for gold vs. the down of my home value. The past two years I've probably lost more in Home Value than I've made in Salary. Link to post Share on other sites
aucu 3 Posted March 1, 2011 Share Posted March 1, 2011 New all time high at $1430 yay, breaking the old high by more than 5 bucks. Link to post Share on other sites
Pot Odds RAC 23 Posted March 1, 2011 Share Posted March 1, 2011 New all time high at $1430 yay, breaking the old high by more than 5 bucks.Wait. Didn't it go over $1430 in December? Link to post Share on other sites
aucu 3 Posted March 1, 2011 Share Posted March 1, 2011 Wait. Didn't it go over $1430 in December?$1423.70 was the previous high water mark. Link to post Share on other sites
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