Hi Skol, go back to 31/12/09 when you started this thread. "Gold is poked and Warren Buffet agrees with me" you said. I think that if you had been posting in 2003 when POG was about $300 you would have said much the same thing...Have a nice day.:)
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Hi Skol, go back to 31/12/09 when you started this thread. "Gold is poked and Warren Buffet agrees with me" you said. I think that if you had been posting in 2003 when POG was about $300 you would have said much the same thing...Have a nice day.:)
I don't think gold is looking like crossing any trendlines at the moment Skol..there are many good reasons why it should not in 2011, see this article written at the start of the year.
http://www.financialsense.com/contri...e-china-effect
All of the points made here make a lot of sense. The aging baby boomers worldwide. Dwindling cheap oil and mineral resources, harder to reach gold resources, the pressure on above-ground gold, etc. The return of gold as money, as viewed by many important cultures. Its place in a new world order, underpinning currencies. More mention of oil being bought in other currencies than US$, perhaps that's already happening now, with the payment being converted to gold holdings.
Another thing about gold, it doesn't go belly-up and disappear off the face of the earth.
Many gold punters rely on TA. Speculators tend to buy or sell in the direction of the market trend, I believe is what you are saying, there's no indication of a decline, at the moment.
'Herding', as it is known is sometimes helped by TA that tries precisely to detect these trends and follow them - a self-fulfilling prophecy, in other words as long as gold goes up the herd will jump on board, following the TA, but when it reverses the opposite happens and the herd jump ship all at the same time.
I note that the author EZ is involved in a bullion management company, not likely to say anything else is he? He's only interested in getting more suckers on board.
Think your find your getting Bulltrend mixed up with bubbles.....and as for herds ...we'll talking Central banks,countries i.e remember India buying that huge 200 ton lot back at $1040oz from the IMF..
this buying is continuing from many countries & central banks an retail buyers that seek to diverse away from Fiat only assets
Central banks buying more gold
http://blogs.forbes.com/kitconews/20...fy-portfolios/
Now with the worldwide Fiat debt woes worsening I see the trend to diverse large funds towards Gold more not less in late 2011 an into 2012 .....
Until monetary policy changes, you’re going to continue to see gold go up.....latest news points towards Q.E 3 an a debt ceiling now over 20 trillion ....to see the end of this bull trend in gold the interest rates will have to be alot higher than current 0%
Hi Skol. I'm just reading a sharemarket book, which implores more use of TA (with a bit of FA grounding first). Less use of broker recommendations (they often have a vested interest), and always ask "Yes, but is this share going up right now?" before thinking about buying in. So who do you trust?
There are many pointers saying gold can go higher. Many miners can't get the stuff out of the ground for less than US$900 an ounce. So I'd expect that at the worst, gold could drop to $1,000 if demand fell away, but it won't ever be back in the low hundreds again (for long anyway), unless the cost of energy drops too. Considering most manufacturers look for a three-fold markup to retail in their cost structure, gold is now too cheap, it should be allowing all miners some hefty profits, and that isn't happening. It's still a tough business.
Imm, its been a long time coming, if u do not own gold or gold stocks, you will have a wheel barrow of paper that might buy u a loaf of bread.
Thats what is heading down the track in the near term. Back to the gold standard, no gold = nothing.:(
Sorry Skol the gold bubble has yet to start. By Christmas people will be in full flight to own any gold.
Airlines will be the 1st to crash and burn. ;)
Who wrote this, hmm, someone with less than half a brain.
Looking at that chart tricha, anyone with half a brain would sell gold and buy equities.
Here's what Dennis Gartman says about gold:
"I heard talk of gold as a safe investment, but gold is NOT a safe investment. Gold may be a safe harbour for a couple of days but there's nothing safe about it."
Airline business is great tricha, POO plummeting, peak oil, yeah right. Air NZ sent 2 747's to Las Vegas yesterday full of big spending punters.
But..But..(splutter) gold has been a safe investment for the last 10 years, not a few days. How many shares are like that?
Great the airlines are full, but anyone knows that a lot of churn doesn't always make a profitable business. Were all aircraft in the air or being turned around? Or are some laid up on the runway? Does this business make an ROI of over 10% every year?
This circular argument always comes back to the cost of energy. No matter how we buy it, it's close to the same figure in terms of cost per kilowatt-hour of heat energy. If/when the major players start producing some real volume low-cost and carbon-neutral energy again, things will change more in line with your thinking Skol.