ahosang 0 Posted May 12, 2011 Share Posted May 12, 2011 Serious testing of previous levels. gold at $1493. Silver went down to $33.65 or so - I'm playing the long now in at $33.72Wish me luck... Link to post Share on other sites
aucu 3 Posted May 12, 2011 Share Posted May 12, 2011 Serious testing of previous levels. gold at $1493. Silver went down to $33.65 or so - I'm playing the long now in at $33.72Wish me luck...Reasonable pot shot. Link to post Share on other sites
ahosang 0 Posted May 12, 2011 Share Posted May 12, 2011 Reasonable pot shot.Actually don't really like gambling like this much anymore. I just quit at $34.80 - it was sub $33 today. So that's me done for now. I'm just going to buy gold and not play markets. Link to post Share on other sites
aucu 3 Posted May 13, 2011 Share Posted May 13, 2011 Actually don't really like gambling like this much anymore. I just quit at $34.80 - it was sub $33 today. So that's me done for now. I'm just going to buy gold and not play markets.It's a risky trying to catch that knife, there may be a bounce but is it a dead cat? The sleep loss factor in silver too high for me right now. Link to post Share on other sites
aucu 3 Posted June 9, 2011 Share Posted June 9, 2011 $1447POG has been through a pull back and is back within reach of it's all time high. Link to post Share on other sites
Pot Odds RAC 23 Posted June 9, 2011 Share Posted June 9, 2011 $1447POG has been through a pull back and is back within reach of it's all time high.You meant $1547, correct?Even during the pull back it has remained at or near $1,500 Link to post Share on other sites
aucu 3 Posted June 9, 2011 Share Posted June 9, 2011 You meant $1547, correct?Even during the pull back it has remained at or near $1,500Yes, $1547 Link to post Share on other sites
aucu 3 Posted June 10, 2011 Share Posted June 10, 2011 Cashed out part of my position today and took a nice chunk of change in profit.This is probably a good indicator that there will be a spike soon. Link to post Share on other sites
mtdesmoines 3 Posted June 11, 2011 Share Posted June 11, 2011 Cashed out part of my position today and took a nice chunk of change in profit.This is probably a good indicator that there will be a spike soon. QE3 will shoot gold over $2k.Bernanke and Obama will make the dollar a third-world currency by 2012 Link to post Share on other sites
hblask 1 Posted June 11, 2011 Share Posted June 11, 2011 QE3 will shoot gold over $2k.Bernanke and Obama will make the dollar a third-world currency by 2012I know a few months ago, EG said some insiders said it definitely would happen, but I've seen reports since then that it definitely won't. Are there any recent reports? Link to post Share on other sites
mtdesmoines 3 Posted June 11, 2011 Share Posted June 11, 2011 I know a few months ago, EG said some insiders said it definitely would happen, but I've seen reports since then that it definitely won't. Are there any recent reports?just google QE3 and read all news results after May 1, 2011 Link to post Share on other sites
hblask 1 Posted June 13, 2011 Share Posted June 13, 2011 just google QE3 and read all news results after May 1, 2011That would require effort, I was hoping someone would just summarize for me. Link to post Share on other sites
Balloon guy 158 Posted June 13, 2011 Share Posted June 13, 2011 That would require effort, I was hoping someone would just summarize for me. Obama sucks Link to post Share on other sites
El Guapo 8 Posted June 13, 2011 Share Posted June 13, 2011 I know a few months ago, EG said some insiders said it definitely would happen, but I've seen reports since then that it definitely won't. Are there any recent reports?Bernanke alluded to it pretty heavily in his most recent comments, but did not say specifically they are going to do it.I think it is still up in the air. I really hope they don't. Link to post Share on other sites
mtdesmoines 3 Posted June 14, 2011 Share Posted June 14, 2011 Bernanke alluded to it pretty heavily in his most recent comments, but did not say specifically they are going to do it.I think it is still up in the air. I really hope they don't. http://www.cnbc.com/id/43396080 Link to post Share on other sites
iguapo 0 Posted June 15, 2011 Share Posted June 15, 2011 http://www.cnbc.com/id/43396080Not sure what that has to do with QE3. I think gold is a fools market. The demand is from fear not use of gold. I could be wrong, but personally would not have more than5% of portfolio in gold. Link to post Share on other sites
mtdesmoines 3 Posted June 15, 2011 Share Posted June 15, 2011 Not sure what that has to do with QE3. I think gold is a fools market. The demand is from fear not use of gold. I could be wrong, but personally would not have more than5% of portfolio in gold.QE3 will directly drive up the price of gold. It won't be that gold is suddenly more valuable, it's that dollars will no longer be perceived as a safe haven for wealth/value.And that link wasn't meant to be directly related to QE3, it was just a random gold price forecast. Link to post Share on other sites
El Guapo 8 Posted June 15, 2011 Share Posted June 15, 2011 The perception that gold is a safe haven is a false one. Gold may very well continue to appreciate, but that sure as hell does not make it safe.I have said this time and time again. Gold is a commodity. It trades on the CBOE, it can be very volatile. It could easily lose 20 - 40% in a very short period of time. Especially if people start to panic sell. GLD is the second largest ETF with about 60B, only to SPY which is the S&P 500 ETF that has 90B.GLD has grown exponentially. It's all in bullion, if the sell button is pressed, that bouillon has to go somewhere. Link to post Share on other sites
mtdesmoines 3 Posted June 15, 2011 Share Posted June 15, 2011 The perception that gold is a safe haven is a false one. Gold may very well continue to appreciate, but that sure as hell does not make it safe.I have said this time and time again. Gold is a commodity. It trades on the CBOE, it can be very volatile. It could easily lose 20 - 40% in a very short period of time. Especially if people start to panic sell. GLD is the second largest ETF with about 60B, only to SPY which is the S&P 500 ETF that has 90B.GLD has grown exponentially. It's all in bullion, if the sell button is pressed, that bouillon has to go somewhere.I'll try to say this a different way: the value of gold is relatively stable. It's the currency fluctuation that's influencing its price. Link to post Share on other sites
El Guapo 8 Posted June 15, 2011 Share Posted June 15, 2011 I'll try to say this a different way: the value of gold is relatively stable. It's the currency fluctuation that's influencing its price.OK, i agree with you. But using that basis, to get to 5,000 per ounce, our currency would have to become basically worthless. Link to post Share on other sites
Balloon guy 158 Posted June 15, 2011 Share Posted June 15, 2011 OK, i agree with you. But using that basis, to get to 5,000 per ounce, our currency would have to become basically worthless.Or rap star grills would have to become mainstream: Link to post Share on other sites
mtdesmoines 3 Posted June 15, 2011 Share Posted June 15, 2011 OK, i agree with you. But using that basis, to get to 5,000 per ounce, our currency would have to become basically worthless.ummmmm ..... http://ballisticdrama.com/images/not-sure-if-serious.jpg Link to post Share on other sites
AmScray 355 Posted June 15, 2011 Share Posted June 15, 2011 I'll try to say this a different way: the value of gold is relatively stable. It's the currency fluctuation that's influencing its price.That's like saying "She's a perfectly healthy and respectable girl. It's just the AIDS and prostitution that give her a bad reputation". In the year 2011, with fiat being the standard medium of transaction and hard currency out, gold bullion derives its entire value as a relative peg to global currency markets. Note- "value" and "price" are two totally different things. Link to post Share on other sites
owise1 0 Posted June 16, 2011 Share Posted June 16, 2011 OK, i agree with you. But using that basis, to get to 5,000 per ounce, our currency would have to become basically worthless.I saw on Berman's call this past Monday on BNN (Business News Network) that he quotes some people as saying that the U.S. would go back on the gold standard. Anybody else heard that? Link to post Share on other sites
mtdesmoines 3 Posted June 16, 2011 Share Posted June 16, 2011 That's like saying "She's a perfectly healthy and respectable girl. It's just the AIDS and prostitution that give her a bad reputation". In the year 2011, with fiat being the standard medium of transaction and hard currency out, gold bullion derives its entire value as a relative peg to global currency markets. Note- "value" and "price" are two totally different things.Well, if I were to pick one or the other -- either the dollar or gold -- that had the AIDS right now, I'd pick the dollar every time. Link to post Share on other sites
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