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The Gold Bull is DEAD. Long Live The Gold Bull.; It ain't over yet flyboy.
Topic Started: 18 Jul 2013, 12:53 AM (16,413 Views)
Pig Iron
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Bogan scum

goldbug
4 Aug 2013, 08:13 PM
Idiot? Ha, I don't need to go back in time.
so why bring it up?
goldbug
4 Aug 2013, 08:13 PM
You are the one stuck with investment properties that that are on interest rate life support
and what life line can be thrown for gold? none, your fucked holding an asset which is down 21% this year already.
goldbug
4 Aug 2013, 08:13 PM
The danger is not in the increase factor, it's when the herd rushes in, when everyone is raving about an investment
so now when you post about how people are lining up to buy gold because it's such a great investment, i will point to you to this post of yours exclaiming how that proves it's a risky move.
Edited by Pig Iron, 4 Aug 2013, 09:57 PM.
I am the love child of Tony Abbott and Pauline Hanson
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goldbug
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Supply and Demand


Demand side explosion continues:

Quote:
 

Gold imports jump 102% in Pakistan; ban imposed
Posted: Friday , 02 Aug 2013

India's neighbour Pakistan has decided to temporarily ban the import of gold for one month, to save its foreign currency reserves and to curtail the rampant smuggling going on in the nation. On Wednesday, July 31, Pakistan imposed a temporary ban on the import of gold. Following the Indian government’s decision to discourage gold import by imposing 8% duties, buyers have reportedly shifted to Pakistan where the precious metal is allowed to be imported duty free since 2001..

On a month-on-month basis, gold imports in June 2013 registered an increase of 176.17% as compared to the imports in June 2012. Gold imports in June 2013 stood at $40.252 million against imports of $14.575 million in June 2012.
http://www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=199685&sn=Detail

Yes, Gold demand went up 176%

Supply side, Big problems emerging.

Quote:
 


How Gold Miners Became A Terrible Investment

It’s tough to find an entire investment sector that has tumbled by 50% this year, but that’s how far the shares of gold mining companies have fallen in 2013. The price of gold, of course, has also plunged in 2013 by some 25% to $1,240 an ounce. But gold mining stocks have performed much worse than broader market indices and even gold itself.

For Barrick, the giant Pascua-Lama gold project located on the Chilean-Argentine high-altitude Andes is emblematic of what has gone wrong. Higher costs to mine a product whose value has diminished. On Friday, Barrick delayed its plans for first production at the mine nearly two years to the middle of 2016.

For nearly eight years now, shares of gold producers have underperformed in a very bad way, which is remarkable because until recently these companies were operating in the most favorable gold price environment imaginable.
http://www.forbes.com/sites/nathanvardi/2013/07/01/how-gold-miners-became-a-terrible-investment-2/


There is a lot more to read in the second article but the fact is many large mines have mountains of debt and operating costs are driving them to the wall just at a time when gold demand is skyrocketing.
These fundamentals speak for themselves. The gold price has never before seen upward potential.


Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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peter fraser
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goldbug
5 Aug 2013, 05:58 AM
Supply side, Big problems emerging.

There is a lot more to read in the second article but the fact is many large mines have mountains of debt and operating costs are driving them to the wall just at a time when gold demand is skyrocketing.
These fundamentals speak for themselves. The gold price has never before seen upward potential.

Long term I think that your asset of choice is in trouble, but in the short term I've been impressed by gold's ability to hold value in $AUD.

Perhaps there are enough people in the world who don't realise that what they are buying will never be currency again to support the asset for a long time, and I guess that's all that matters. Who needs fundamentals when you have a sizeable herd of believers.
Any expressed market opinion is my own and is not to be taken as financial advice
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Pig Iron
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Bogan scum

Lol. Never before seen potential. Is that you admitting it has crashed?
I am the love child of Tony Abbott and Pauline Hanson
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goldbug
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peter fraser
5 Aug 2013, 08:32 AM


Perhaps there are enough people in the world who don't realise that what they are buying will never be currency again to support the asset for a long time

Did China Just Fire The First Salvo Towards A New Gold Standard?
http://mortgagefraudexaminers.com/did-china-just-fire-the-first-salvo-towards-a-new-gold-standard/

In a somewhat shockingly blunt comment from the mouthpiece of Chinese officialdom, Yao Yudong of the PBoC's monetary policy committee has called for a new Bretton Woods system to strengthen the management of global liquidity. In an article in the China Securities Journal, Yao called for more power to the IMF as international copperation and supervision are needed. While comments seem somewhat barbed towards the rest of the world's currency devaluers, given China's growing physical gold demand and the fixed-exchange-rate peg that 'Bretton Woods' represents, and contrary to prevailing misconceptions that the SDR may be the currency of the future, China just may opt to have its own hard asset backed optionality for the future; suggesting the new 'bancor' would be the barbarous relic (or perhaps worse for the US, the Renminbi).
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Admin
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Quote:
 
Gold recovery picking up steam

August 16, 2013 - 10:14AM

Gold rose to a near two-month high overnight, gaining nearly 2.5 per cent as a drop in the US dollar triggered short-covering and a technical breakout once prices breached key resistance at $US1,350 an ounce.

After trading lower earlier in the session, gold staged an impressive $US50 rally as the dollar reversed gains after data gave conflicting pictures of the strength of the US economic recovery, muddying views on when the US Federal Reserve will begin trimming its stimulus measures.

Speculators, who have boosted their short position on gold since its mid-April sell-off, opted to buy futures to cover their bearish bets as gold rose above the $US1,350 mark, an area bullion attempted to breach several times in the past two months but failed each time.

"Today's move was mostly driven by technicals, and that spooked the bearish bets out of the gold market," said Axel Merk, chief investment officer at Merk Funds.

Spot gold was up 2.3 per cent at $US1,365.60 an ounce, having hit $US1,369.40, its highest level since June 19.

Relatively low volume in the quieter summer months suggests that the metal could easily give up its gains, traders said.

Earlier, the metal fell as much as 1.1 per cent to a low of $US1,318.81 an ounce after data showed US jobless claims fell to a near six-year low last week and the consumer price index (CPI) rose broadly in July. On Wednesday, US data showed the producer price index (PPI) was flat in July.

"I would rather not own gold today. The benign CPI, PPI and Personal Consumption Expenditure (PCE) all suggest that inflation is not picking up," said Jeffrey Sherman, commodities portfolio manager at DoubleLine.

Stocks of physical gold crossed continents in the first half of 2013 as Westerners dumped their holdings and, on the other side of the world, the resulting fall in price sent consumers flocking to jewellers and bullion dealers.

Indian, Chinese, Thai and other Asian consumers flocked to jewellers and bullion dealers to build their holdings.

Read more: http://www.smh.com.au/business/markets/gold-recovery-picking-up-steam-20130816-2s0kt.html
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Dr Kinetoscope
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Im not a goldbug, but as part of my portfolio, I still hold a little bit of Gold.

I bought it in 2009 from memory.

Measured in Australian dollars, I have probably only lost 5%, and i'm pretty comfortable with that because the volatility of Gold will likely present a good selling opportunity at some point.
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ShadBerg's torrid Macrobusiness love affair
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Count du Monet
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Dr Kinetoscope
16 Aug 2013, 05:46 PM
Im not a goldbug, but as part of my portfolio, I still hold a little bit of Gold.

I bought it in 2009 from memory.

Measured in Australian dollars, I have probably only lost 5%, and i'm pretty comfortable with that because the volatility of Gold will likely present a good selling opportunity at some point.
Gold isn't truly volatile, the central banks make it that way. If gold was truly volatile it never would have made it as a currency. The central banks have a fifth of the entire above ground stock on their books and they buy and sell counter intuitively.
The speculators have taken gold as far as it will go. But if the central banks do the usual and buy while it's expensive, then they'll push the price to over $3,000.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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I bought some gold in brisbane today but there was little to choose from. supply is very constrained now.
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miw
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16 Aug 2013, 06:10 PM
I bought some gold in brisbane today but there was little to choose from. supply is very constrained now.
That's because it is all in China. There is a display like this in every bank alongside the noticeboard advertising dodgy shadow-banking "term deposits".
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Edited by miw, 16 Aug 2013, 07:35 PM.
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