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tom_shor
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Hey break me off a slice of that. :o I think I'll buy food. If things get really bad I can get all the gold I need.

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Hey break me off a slice of that. B) I think I'll buy food. If things get really bad I can get all the gold I need.

 

Well I'm all ears if you know where to get it.

 

In Australia, there seems to be noone with coins for sale. There's some silver coins at Ainslee in Brisbane, but silver is different to gold.

 

Most gold news is dyed in the wool bullish at the moment. Contrarians might see that as a hell bearish signal. But, major gold equities in Australia have just marched ahead. Newcrest, up 20% in just a few weeks. Newmont, up over 10-15%, Santa Barbara up 25%. Only Dioro and Lihir in my portfolio of gold miners languish.

 

 

 

Funny thing is, gold bullion securities (GOLD, an ASX ETF spawn of GLD) is down, even though the gold price is surging, now past the $850 USD technical barrier. This ETF is supposed to be DIRECTLY linked to the price of gold. Clearly, right now there are confounding variables.

 

I've also discovered, the website for "gold bullion securities australia" is inaccurate. Their contact details have NOT been updated. The company has MOVED to London (where the gold is now stored). They advertise that you can "redeem" your gold by a "redemption form" into delivery of physical gold. The fine print suggests that this option is only available to institutional investors.

 

There is no link to a redemption form on their website. Strange, but true. They have no contact details in London on their website. I have emailed the equivalent ETF in London with no reply as of yet. I will sell my ETF gold shortly. It's only paper.

 

My suspicion is, as you can redeem these "stapled" securities in physical metal, institutions are taking delivery. This means they are "selling", driving the price down, despite the advancing gold price.

 

 

However, and I'd love informed comment here, what ARE the factors genuinely influencing the relationship between the US and Aussie prices of gold, other than the USD and oil?

 

I'm posting here for the gold lovers the links I read. If any of you want to contribute to the pool of information, feel welcome. There's plenty of good reading in there, with a seasoning of tosh. :)

 

http://www.24hgold.com

 

http://www.321gold.com

 

http://www.theaureport.com

 

http://thegoldbugnet.blogspot.com

 

http://www.gold-eagle.com/editorials.html

 

http://www.goldenjackass.com/main5.html

 

http://www.financialsense.com/ (editorials)

 

http://www.professorfekete.com/articles.asp

 

http://goldnerds.com.au/

 

http://commentary.goldseek.com/

 

http://gata.org/

 

http://www.safehaven.com/

Edited by breakfast
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Gold was a great buy in 1970. And here is why. Gold was pegged to $35.00 an ounce buy FDR in the Great Depression. It stayed that way until Nixon took us off that pegged price and allow gold to float. All those years took a big toll on supply. It just was not worth it to mine as the fixed price of gold made it not worth mining. It was little wonder why gold shot up like it did. In 1970 most investment advisers would have told you not to buy gold. Now we have a very different situation. Lots of productive gold mining operations and new ones cumming on line. I forgot to mention Industrial demand has been going down for some time now. And gold almost always gets recycled. So there is a glut of supply. Just remember all those selling gold make hefty commissions buying and selling. Oil might be a better option or shorting the 30 year T-bill when interest rates rise if you like making money.

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Gold was a great buy in 1970. And here is why. Gold was pegged to $35.00 an ounce buy FDR in the Great Depression. It stayed that way until Nixon took us off that pegged price and allow gold to float. All those years took a big toll on supply. It just was not worth it to mine as the fixed price of gold made it not worth mining. It was little wonder why gold shot up like it did. In 1970 most investment advisers would have told you not to buy gold. Now we have a very different situation. Lots of productive gold mining operations and new ones cumming on line. I forgot to mention Industrial demand has been going down for some time now. And gold almost always gets recycled. So there is a glut of supply. Just remember all those selling gold make hefty commissions buying and selling. Oil might be a better option or shorting the 30 year T-bill when interest rates rise if you like making money.

 

Gold came off the standard, ie decoupled from paper promises, in 1971. The US fight in Vietnam meant the rules had to be broken. The gold standard devolved to the NYSE COMEX.

 

The biggest holder of the 180 000 tonnes of mined gold is Uncle Sam.

 

There is no glut of supply in the world of trade. It's a desert. Famished for gold.

 

Hence the higher lows and higher highs.

 

Oil is a good long. Hands down. Uranium too.

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tom_shor
Australia, a stable ally of the US, has uranium in spades.

 

The major choices are

 

BHP and Paladin (a relatively pure uranium move)

 

Yes but they get upset if you try to stockpile uranium. Also you have to be careful how much you stockpile or your whole portfolio could vanish in a flash of light. Literaly. :welcome::lol:

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Yes but they get upset if you try to stockpile uranium. Also you have to be careful how much you stockpile or your whole portfolio could vanish in a flash of light. Literaly. :lol::lol:

 

Well its sure safer in the ground. Price per pound may come down with new tech that uses beryllium mixed with uranium to yield energy. I know beryllium is used in small nukes as a reflector to magnify energy yield for the bomb but not so sure on the technical application for peaceful use.

 

Aussies don't stockpile. We flog it off. :lol:

Edited by breakfast
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Latest Diggers and Drillers subscription gold reco's (on Australian Stock Exchange ASX):

 

 

Mainstays:

 

St Barbara (I have 10k here)

Citigold - my next

 

Juniors

 

Kinsgate Consolidated (KCN)

Troy Resources (TRY)

Dominion Mining (DOM)

Silver Lake (SLR)

Independence Group (IGO)

 

There's a bit more carnage to come IMO and this publisher has a record of spruiking some lemons. To their credit, they table their buy point and performance. That's honest. I think they will be right given time, but there was an element of shall we say, premature ejaculation?

 

Nonetheless I provide the condensed D&D wisdom here. For the pdf (12 pages) google "diggers & drillers", login asi, pw shiny. Go to Monthly updates. Click the December update.

Edited by breakfast
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Anyone know if or where i can sell my gold for the spot price of $990 an ounce?

 

 

Hi,

 

Are you in Cebu? or anywhere near here? Anyways, you can sell your Gold to Banko Central (BSP), but not in CEBU but in DAVAO. Google it. Read their requirements. Hope this helps.. :thumbsup:

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I am not AS bullish in gold and silver as I was before because there is too much bullishness around right now. This year will be a year of consolidation for the metals. The main reason you want NOT to own mining stocks is that many mining companies presold their gold, second, it's just a stock speculation. ETF's, even if they are backed by real gold won't be able to deliver when you need it. The REAL reason why you want gold and silver is that they will be a panic haven for many once this thing goes down. Always keep in mind that the higher the prices will go, the more scam will happen.

 

PS: If anyone wants to sell gold or silver, I pay top price.

 

.

Edited by scianna54
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I am not AS bullish in gold and silver as I was before because there is too much bullishness around right now. This year will be a year of consolidation for the metals. The main reason you want NOT to own mining stocks is that many mining companies presold their gold, second, it's just a stock speculation. ETF's, even if they are backed by real gold won't be able to deliver when you need it. The REAL reason why you want gold and silver is that they will be a panic haven for many once this thing goes down. Always keep in mind that the higher the prices will go, the more scam will happen.

 

PS: If anyone wants to sell gold or silver, I pay top price.

 

.

 

Dude

 

Dont lose your nerve

 

The banks in the USA are zombies

 

Gold does best in financial crisis.

 

but it's a trader's commodity. Sell on strength (today was good). Buy on weakness.

 

The true test of fiat is at hand.

 

Never has there been no gold backed currency, until 1971. Now look at history since.

 

That said, I'm going for oil next and uranium.

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Historical return of gold verses the Dow-30.

Another good gold ETN is DZZ the inverses double short gold.

 

Thanks for the tip on the short gold option. I dont't think we have such a vehicle in Australia. Great photos!

 

I found the graph from the wiki link you posted interesting, I have seen it before. I'll post it here but it will likely be kinda small. Click on it for a large version.

 

You will see a relationship of major stock market events, such 1930s depression and 1970s stagflation, to price movements in gold.

 

Also, for Australian readers who would like some info on the factors that impact on the Aussie gold price versus US, try this:

 

google diggers drillers

 

user osi

pw clock

post-4103-1232851361_thumb.png

Edited by breakfast
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