Gold

[N Rothschild]

haha sorry was busy watching the massive selling in gold,

 

[meanreversion]

My trailing stop is quite close now, I reckon I'll be out before the end of the day. Been a nice ride over the last 3 months.

 

[Chartsy]

rothschild still think it's headed to 600?

 

[N Rothschild]

dunno about 600 now, think we will get down to 1000 though

 

[meanreversion]

600 would be nice, there'll be a good trend in there!

 

[glyder]

out of interest, what with the wealth destruction in the US, the unemployment and general lack of money supply and most people cant afford to pay for their mortgages.. how are people going to pay for these 20,000$ per ounce gold bars?

Baring in mind most gold bugs arguments are that its the "people" who will buy gold, not financial institutions.

NR -From All those billions of $£$£$£ under management, it only takes a tiny % of each portfolio to flow into gold to move the price significantly.

So far it hasn';t happened in any great way, most 'financial advisors' in whatever shape they come are still too hooked on traditional assets to recommend gold or gold backed assets in any big way. They don't understand how to sell an asset with no % return, they aren't sure what commission they'll get for doing so either - ETFs are still a novelty to most of them.
When gold has gone way too high in value the public demand will kick in. The advisors will then be trained to sell them gold cos it can only go one way of course. Then we'll see the real bubble.
thats my off the cuff theory anyway.

 

[meanreversion]

Had a bit of slippage on my stop at 1225, seems like it was a popular level. Flat gold now.

 

[N Rothschild]

Had a bit of slippage on my stop at 1225, seems like it was a popular level. Flat gold now.

timmberrr

 

[gooseman]

the move today not exactly out of the ordinary in terms of daily ranges

 

[N Rothschild]

nope but finally took out an area that its been trying to get for a while

 

[gooseman]

fair. having a go to the downside theer now too. i see it's gone through a decent MA although that's not my style of trading.

for what it's worth i'm in your camp on the gold argument although i can see the argument of why gold is rallying as an alternative investment.

 

[meanreversion]

it traded down to 1225 last week (during the England Slovenia match) but bounced.

This is a weird day, EUR/USD massively up, gold tanking, oil tanking.

Markets are in pain seeking mode, I think !

 

[Black Swan]

Ha, I guess your sarcasmometer is broken?

don't believe him, he's like Soros and Buffett, 'kin tells you one thing and does another...look at the lap top he posts from to get a clue FFS!!!

MUHAHAHAHA....

 

[cm-phil]

It's reached a peak. Even when the market is down it still goes down, it's just too over-valued

 

[N Rothschild]

your bases are belonging to me.

 

[JER08]

your bases are belonging to me.

You playing Command & Conquer 4?

 

[N Rothschild]

C&C Short Gold edition.

 

[JER08]

C&C Short Gold edition.

hope you got in at a good level. This game could last many moons...

 

[forexup]

YEY for brokers that allow hedging! I shouldve seen that coming.. the signs were all there..

 

[montmorencyt2w]

I stopped buying physical when it breached $1,000...for the first time a couple of years back, iirc March/April 2008... wtf would anyone buy at this price? Other than short term speccing obviously.. As someone once said "Never give a sucker an even chance.." plenty of mugs/dumb money buying IMHO...
Can't wait for the ponzi investment gold schemes to come out of the wood work, folks have been buying virtual gold in vaults that are empty/already been robbed by the banks...LOL..

Agree with you, but then the gold bugs will say that will actually increase the price of real physical gold (assuming you can be sure of getting your hands on any).