Gold

[Skol]

Nearly 40% difference between the gold price and the XGD and the XGD taking another hit today.

Something's gotta give soon, wait for it.

http://finance.yahoo.com/q/ta?t=1y&s...l&q=l&c=xgd.ax

[tricha]

This man seems to talk a lot of common sense compared with other 'experts', like Von Greyerz, Sinclair, Schiff, Aden Sisters, ad infinitum.

www.kitco.com/ind/Nadler/feb032012.html

Talking of the Aden Sisters, I've got a list here of 133 analysts and their gold forecasts.

The Aden Sisters predict gold $3000 to $5000 by Feb 2012.

Hahaha, hope none of you guys subscribe to them or you should be asking for your money back.

So far I'm more correct than the 133 analysts, and I'm not even an analyst.

1yearchg

+366.50

+26.87%, unfortunately the only thing you are correct about, is u r a Dorklander

[skid]

The $US index turned weaker at mid morning Thursday and hit another fresh nine week low overnight.

[Vtrader]

4 hours ago I suspect the POG chart traced the end of the first 12345abc, of the next set of motive waves.
So a complete minor set, and a 1,2 of an intermediate series, and wave 5 of a 'major' series.
POG turned about $1706USD

Of course there is always another possible count, hindsight will identify.
There are some that suggest the next motive set up for gold will be significant.

But what would a washed up old pipe welder know about world finances.
(A. Bugger all, which is why I observe charts.)

Regards
V.

[Skol]

There was an excellent documentary on Warren Buffet on Sky a couple of nights back. Not one mention of the word gold.

Goldbugs mostly rubbish Buffett but BRK's performance since 1990 thrashes gold by 4:1.

[Pumice]

Gold has traditionally been a store of value, not a high yielding/growth play.
The only reason gold would get $5000 would be if the USD disintegrated, but given recent economic data, that isn’t happening (most data has surprised to the upside).
Maybe fanatical investors simply added a bit of froth to the gold price, but are plenty of poorer performing investments than gold.

Time will tell.
I’m slightly bearish on gold (in real terms).

[elZorro]

Just out, last quarter China purchased more gold than India, but India is still ahead on an annual basis, taking 27% of the production (they use 933 tonnes, or about 33 Moz).

http://timesofindia.indiatimes.com/b...w/11919582.cms

[Skol]

EZ,

The reason the chinese buy gold is not because they really want to, it's because there's no choice.

They don't have access to foreign markets, it's the bank, at low rates, overheated real estate or take your chances with gold.

[drillfix]

They don't have access to foreign markets,

Huh? That is so far from the truth Skol, in fact complete opposite so not sure what page your on here mate.

[Skol]

Huh? That is so far from the truth Skol, in fact complete opposite so not sure what page your on here mate.

Perhaps this exerpt from the very latest Barron's might convince you. By the leader of Hong Kong-based Value Partners.

'China is a command and control economy. The textbooks you read at Princeton or Harvard are only partially applicable. In the Chinese situation, first, the banking system is very much under government control, and second, there is the phenomenon of financial repression. In simple language that means people cannot freely send their money overseas in search of higher returns'

Damned goldbugs, never do their homework.
That's why they're going to end up poor.