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Gold - Feb 9, 2007 to Mar 16, 2008
- Thread starter Laidback Al
- Start date
- Status
Re: Gold - Feb 9+
Re: Gold - Feb 9+
Before the pandemic greets us with level 6, paper is kewl...unleveraged, or leveraged below 50%. Pigs get slaughtered as well as dual infected (randomly, of course.)
But one ounce coins are those of the realm, just junk coins (if American Eagles, the scratched ones because when selling, nobody will pay the "mint" premium) in any of the common stampings...Krugerrands, Canadian Loonies, American Eagles, and if in Europe, the Austrian Orchestras.
Look at the large volume dealers online, like www.monex.com. You want your buy premium to be as low as possible. However, with movements now of $20 per day, it's a dime holding up a dollar. Just press to minimize your spread.
There are a slew of coin dealers online. Ask in blogs and newsgroups on the topic of gold. There's www.321gold.com, and www.goldseek.com, and www.usagold.com and it's /forum
If getting them, you better have a darned safe place to store them, and imo, that does not include a bank safe deposit box because they will be targets during social unrest. Or if you like banks and think they're safe, then a nice bank in Kenya or Lebanon or Iraq or or or or. And if you like banks, just send the coins here. I'll take really good care of them and even issue you a receipt.
So, some should not buy gold because of your inability to store it safely.
It's rough to suggest gold will rise when it's near its all time high. However, the nature of this investment is that most time will be spent with it near its latest high. Sorry. However, if you want to never be concerned about risk, you can buy real estate in the US, because then you are 100% sure you will lose about 50% of your money, if you buy NOW. Or you can buy some happy stocks and throw your money (as in lifesavings, as in everything you worked and sacrificed for) away that way.
Re: Gold - Feb 9+
Before the pandemic greets us with level 6, paper is kewl...unleveraged, or leveraged below 50%. Pigs get slaughtered as well as dual infected (randomly, of course.)
But one ounce coins are those of the realm, just junk coins (if American Eagles, the scratched ones because when selling, nobody will pay the "mint" premium) in any of the common stampings...Krugerrands, Canadian Loonies, American Eagles, and if in Europe, the Austrian Orchestras.
Look at the large volume dealers online, like www.monex.com. You want your buy premium to be as low as possible. However, with movements now of $20 per day, it's a dime holding up a dollar. Just press to minimize your spread.
There are a slew of coin dealers online. Ask in blogs and newsgroups on the topic of gold. There's www.321gold.com, and www.goldseek.com, and www.usagold.com and it's /forum
If getting them, you better have a darned safe place to store them, and imo, that does not include a bank safe deposit box because they will be targets during social unrest. Or if you like banks and think they're safe, then a nice bank in Kenya or Lebanon or Iraq or or or or. And if you like banks, just send the coins here. I'll take really good care of them and even issue you a receipt.
So, some should not buy gold because of your inability to store it safely.
It's rough to suggest gold will rise when it's near its all time high. However, the nature of this investment is that most time will be spent with it near its latest high. Sorry. However, if you want to never be concerned about risk, you can buy real estate in the US, because then you are 100% sure you will lose about 50% of your money, if you buy NOW. Or you can buy some happy stocks and throw your money (as in lifesavings, as in everything you worked and sacrificed for) away that way.
Niko
Editor, Senior Moderator
Re: Gold - Feb 9+
Re: Gold - Feb 9+
To add to Gaudia's suggestions, Kitco is a reputable online source for shiny metals or paper:
http://www.kitco.com/
Re: Gold - Feb 9+
To add to Gaudia's suggestions, Kitco is a reputable online source for shiny metals or paper:
http://www.kitco.com/
Binkerbear
Well-known member
Re: Gold - Feb 9+
Re: Gold - Feb 9+
I'm back; where did everyone else go ?
Metals and other commodities are exploding. Platinum over $2,100 !
... my thought: one way or another, this is only the first inning.
Re: Gold - Feb 9+
I'm back; where did everyone else go ?
Metals and other commodities are exploding. Platinum over $2,100 !
... my thought: one way or another, this is only the first inning.
Sally Furniss
Well-known member
Re: Gold - Feb 9+
Re: Gold - Feb 9+
Gold sets record; silver at 27-yr high
Reuters
First Posted 04:29am (Mla time) 03/04/2008
LONDON?Gold edged closer to $1,000 on Monday, setting a record high for the fourth straight day as the dollar tumbled and as crude oil held near an all-time high.
Silver jumped above $20 an ounce for the first time since November 1980, while platinum and palladium held near highs.
Spot gold jumped as high as $989.30 an ounce and was quoted at 983.70/984.50 at 1530 GMT, up from $973.30/973.75 in New York late on Friday.
Gold has gained around 18 percent in 2008 as investors shift some of their money into the precious metal on expectations of more interest rate cuts in the United States, volatile stock markets and fears of rising energy costs.
"People are bullish because the macroeconomic backdrop, especially in the United States, is still deteriorating. There are a lot of incentives in the market for people to actually go long on gold at the moment," said Michael Widmer, metals analyst at Lehman Brothers.
"As long as the dollar remains under pressure, I would expect that gold prices would continue to rise," Widmer said.
The dollar fell to a record low against a basket of currencies on Monday, as concerns about the health of the US economy intensified.
A weaker dollar makes gold cheaper for holders of other currencies and often lifts bullion demand. The metal is also generally seen as a hedge against oil-led inflation.
Oil moved sharply higher, propelled by gains in oil products and dollar weakness. Expectations that OPEC will not change oil output when it meets this week in Vienna underpinned the market.
"It clearly needs further weakness in the dollar to do that [reach $1,000], but it doesn't look inconceivable," said Stephen Briggs, economist at SG Corporate and Investment Banking.
"Gold is heavily overdue a correction. It has for a while, but it just doesn't do it," Briggs said.
In other bullion markets, US gold futures also rallied to a record high above $990 an ounce. The active gold contract for April delivery was up $12 an ounce at $987 at 1525 after rising as high as $992.
"The weakening dollar is increasing gold's appeal as an alternative investment, which has prompted a wave of fund buying interest as investors search for a safe haven to protect the value of their portfolios," Standard Bank said in a report.
In other metals, silver rose as high as $20.60 an ounce, up from $19.80/19.85 an ounce late in New York, and was last quoted at $20.20/20.25.
Spot platinum rose to a high of $2,190/2,200 an ounce from $2,163/2,170 late in New York. It hit a record of $2,192 an ounce on Feb. 22 as problems with power supply disrupted mining in main producer South Africa.
A South African minister said on Friday the country's mining industry would get priority under measures aimed at cutting electricity use to solve a power crisis.
Palladium rose to $583/587 an ounce, its highest in more than six years, from $563/568 late in New York.
http://business.inquirer.net/money/breakingnews/view_article.php?article_id=122618
Re: Gold - Feb 9+
Gold sets record; silver at 27-yr high
Reuters
First Posted 04:29am (Mla time) 03/04/2008
LONDON?Gold edged closer to $1,000 on Monday, setting a record high for the fourth straight day as the dollar tumbled and as crude oil held near an all-time high.
Silver jumped above $20 an ounce for the first time since November 1980, while platinum and palladium held near highs.
Spot gold jumped as high as $989.30 an ounce and was quoted at 983.70/984.50 at 1530 GMT, up from $973.30/973.75 in New York late on Friday.
Gold has gained around 18 percent in 2008 as investors shift some of their money into the precious metal on expectations of more interest rate cuts in the United States, volatile stock markets and fears of rising energy costs.
"People are bullish because the macroeconomic backdrop, especially in the United States, is still deteriorating. There are a lot of incentives in the market for people to actually go long on gold at the moment," said Michael Widmer, metals analyst at Lehman Brothers.
"As long as the dollar remains under pressure, I would expect that gold prices would continue to rise," Widmer said.
The dollar fell to a record low against a basket of currencies on Monday, as concerns about the health of the US economy intensified.
A weaker dollar makes gold cheaper for holders of other currencies and often lifts bullion demand. The metal is also generally seen as a hedge against oil-led inflation.
Oil moved sharply higher, propelled by gains in oil products and dollar weakness. Expectations that OPEC will not change oil output when it meets this week in Vienna underpinned the market.
"It clearly needs further weakness in the dollar to do that [reach $1,000], but it doesn't look inconceivable," said Stephen Briggs, economist at SG Corporate and Investment Banking.
"Gold is heavily overdue a correction. It has for a while, but it just doesn't do it," Briggs said.
In other bullion markets, US gold futures also rallied to a record high above $990 an ounce. The active gold contract for April delivery was up $12 an ounce at $987 at 1525 after rising as high as $992.
"The weakening dollar is increasing gold's appeal as an alternative investment, which has prompted a wave of fund buying interest as investors search for a safe haven to protect the value of their portfolios," Standard Bank said in a report.
In other metals, silver rose as high as $20.60 an ounce, up from $19.80/19.85 an ounce late in New York, and was last quoted at $20.20/20.25.
Spot platinum rose to a high of $2,190/2,200 an ounce from $2,163/2,170 late in New York. It hit a record of $2,192 an ounce on Feb. 22 as problems with power supply disrupted mining in main producer South Africa.
A South African minister said on Friday the country's mining industry would get priority under measures aimed at cutting electricity use to solve a power crisis.
Palladium rose to $583/587 an ounce, its highest in more than six years, from $563/568 late in New York.
http://business.inquirer.net/money/breakingnews/view_article.php?article_id=122618
Binkerbear
Well-known member
Re: Gold - Feb 9+
Re: Gold - Feb 9+
Yes, as far as the U.S. is concerned, I think a financial disaster may strike us here before bird flu or terrorism. Those prepping for the flu will be in good shape.
Re: Gold - Feb 9+
Yes, as far as the U.S. is concerned, I think a financial disaster may strike us here before bird flu or terrorism. Those prepping for the flu will be in good shape.
Laidback Al
Well-known member
Re: Gold - Feb 9+
Re: Gold - Feb 9+
Please post to the new thread.
The continuation of Gold thread is here at this link: http://www.flutrackers.com/forum/showthread.php?t=59910
Re: Gold - Feb 9+
Please post to the new thread.
The continuation of Gold thread is here at this link: http://www.flutrackers.com/forum/showthread.php?t=59910
- Status