quoting my self here from 60 hours ago
gold down USD26 an oz
those spinning tops huh ;+)
did you have your shorts in place skol?
nah me neither.
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Don't own it, don't short it, have been acquiring some extremely boring but reasonably safe stuff like AAC and TLS lately.
Something that really stands out just recently, the number of goldbugs who say "it's different this time".
Aaaahhhhhh, yeah, right.
Gold down 60 Euros in 36 hours, a record decline.
Is this 'it'?
The WSJ today puts an end to the myth that China has accumulated huge amounts of gold.
China has 1054 metric tons, a miniscule part of its foreign exchange reserves.
You could put that into a small hotel room.(on the bottom floor though).
Hi Skol,
Yep, looks like its all over for Gold. Here's some AUD gold charts for you
1 month:
http://www.galmarley.com/ChartApp/Im...th_300x150.gif
1 year:
http://goldprice.org/charts/history/...year_o_aud.png
CPI in the USA is negative.
Deflation.
http://www.youtube.com/watch?v=KRncLJnloJc
Headlines in todays WSJ.
'Inflation at 44 year low.'
During this downturn, gold is about the only metal (or oil) that hasn't been smashed.
In oz dollar terms, it continues to rise quite nicely.
With all the soverign debt issues that will be felt for years to come, gold isn't going to crash anytime soon.
No Skol, I won't be heading down to the farm anytime soon. Agriculture is a sector that has shown great promise, but always seems to under deliver.
Gold is still holding quite well, and I would expect it to stay north of $1,000 for quite a while. This will be a very nice backdrop for PIR, which is the gold stock I'm backing (I don't hold physical gold).