Daily Gold Thread

reply to post by bussoboy


Hello bussoboy. Before committing to an unallocated precious metals account, you may want to review Jason Hommel' research on the Perth Mint Certificate Program - Links. Back in 2008 when supply was running thin (like now) and certificate holders were trying to convert to physical...Perth Mint had a bit of trouble performing.

With highly regarded John Embry sitting on the board of directors, audited funds like the Canadian domiciled CEF & GTU are as good a gold...as are the Canadian based Sprott Physical Gold Bullion Trust (PHYS), and the newer Sprott Physical Silver Trust (PSLV). Unlike the etf's GLD/SLV, the Sprott funds are audited, redeemable in physical metal, and they also operate under the watchful eye of John Embry as chief investment strategist.

Functioning somewhat like an online banking account, James Turk' GoldMoney may offer the easiest method for investors to buy/sell precious metals and avoid the storage issue. Additionally, for the outright paranoid, GoldMoney' physical inventory is vaulted offshore, outside US jurisdiction.


*Not investment advise, nor am I a qualified investment counselor. I'm simply one of the little people trying to protect his a$$-ets, and eek a miserable living out of an unfriendly economic environment. A most fallible human being...sometimes right...sometimes wrong.

**Disclosure: I currently own CEF, PSLV, physical precious metals, a portfolio of Gold/Silver mining stocks, and I hold a GoldMoney account.

reply to post by OBE1


Well' there you go, who was who said I knew everything?

Thank you for that, very enlightening. Funy how one never suspects an organsiation that one has grown up with. I have brought physcial gold from them before and not had a problem. Do you see any problems with doing the same again?

I can only afford to buy a few ounces but I dont want to have to keep it in the house and while I havent looked into it I did hear that banks charge an arm and a leg for their services.

Any advise would be appreciated mate, thanks.

To others that have read my previous post, my appologies for the bum steer.

cheers

Here it is folks, 1400 dollar an ounce gold



There's a chance it will drop again, but the mark has been broken.

oh and the DOW is down 42 points, I wonder how long the fed's drug injection will last before it drops around the 10,000 mark.

Since the price is constantly changing, I'll say that the price at 12:26 ET is 1404.31

reply to post by bussoboy


Well, I'm not really equipped to offer direct advice bussoboy, but I can tell how I buy. In order to minimize cost, I make all of my bulk purchases on larger corrections through a reputable online volume dealer here in the US. This particular dealer offers free overnight shipping & insurance. He requires a 20oz minimum purchase on Gold, and a 500oz minimum on Silver...but the prices are unbeatable...the service impeccable. If I am trying to pick-up a few ounces to take advantage short term volatility, I usually suck it up, and dash over to the nearest coin shop where I pay dealer spot +a larger premium. The higher premium isn't really an issue on these smaller purchases since the market typically reverses quickly to the upside...putting me "in the money" in relatively short order.

I can't really second guess the Perth Mint, I just know that a few of the popular sources like Perth and Northwest Territorial Mint were experiencing supply issues, including substantial delivery delays. I would try to get a firm commitment from Perth on a delivery date, and I would definitely avoid committing my money to any unallocated pool account, or certificate program.

Attorney General sues Northwest Territorial Mint for deceptive sales practices

Again, James Turk' company is an excellent service for investors with storage concerns.

*Just my personal opinions...actual mileage may vary.

James Turk - Gold to Rise Over $100 In a Matter of Days
November 8, 2010

With gold and silver recently hitting new highs, King World News interviewed James Turk out of Spain. James had this to say about recent developments, “Robert Zoelleck, President of the World Bank, wants to start a debate about a new international monetary system. The key quote from his article is, ‘The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.” - More

Related: Zoellick seeks gold standard debate

Originally posted by thepixelpusher
I'm not too keen on buying physical gold and keeping it on my premises. I'd heard that the Central Fund of Canada is a legit way to invest (through the stock market) in physical gold and silver and is not an ETF (Electronically Traded Fund that needs only to have a fraction of the gold to back investors money). Also, the Canada Fund would allow me to liquidate easily to move my money as other opportunities come along.

check out the NYSE: PHYS stock... its supposedly the only true/honest bullion vault firm in existance

then look up other related articles of recent publication on PHYS, i know there's a good link article as
of last week (1 nov era).....


will read the rest of the posting chain, then post a reply to the OP, thanks

a week or so ago, i replied to another gold related thread and postulated the linkage with the
price of Gold relative to the supposed Bull market run up in the DOW stocks...

i guestimated that gold would be $1,400 when the market hit 11,750
i further made a connection of gold $1,500 at market 12,000


but with the latest QE-2 monster about to be unleashed... those relationships/ ratios are out the window

see, with QE-1 the banks corraled or sequestered the funny FED generated money into
'excess reserves'
but with the new avenues of money useage allowed in the QE-2 phase...
the hyper printed money will be purposely injected into the economy's pool of cash...
hence a (wanted by the FED) accelleration of 'inflation'
(which as everyone knows, is in reality monetary 'deflation'...but spun differently by the elites)


i'm looking now at gold going to $1500. @ DOW 11,750 -&- gold to $2,000 @ DOW 12,000
the disconnect is there but not-there at the same time...kapish?

its no longer a effort to balance ones portfilio, its fast becoming a rush to save-ones-skin (SOS)
situation... the next level will be a panic... and that should begin around the 15th of Nov.
the 'tipping-point' according to some predictor sources...
the whole London & Comex will soon get exposed as issuing paper-gold at 70-100X the
actual physical holdings they have on hand... thats when gold goes parabolic


i'd like to see this thread continue, even if i get the exact dates wrong...
i personally quit chasing upward gold, i'm only into the producer equities and at a predetermined rate
for the year---
i propose to invest at least another grand over the next 3 months or until the Funds NAV exceeds what i think
it will be a week from that investment date...my fund is @ $26 a share now...
i'll ride the pony up to $50 per share for the next 3 months--- after that--- who can guess?

I hear they mentioned a Q.E 3 is possible. I think they have reached the end of the line. They don't know what to do anymore, so all that can think of doing is print money as much as possible. Which will implode on itself and when it does, the dollar will be worthless. I think today's shot in gold, is the first of many in the coming weeks. I wouldn't doubt we see gold rising on an average of 10 dollars per day for the next while. The U.S markets are going to crash, because there is too much money to handle. When you put too much food on your plate, you only eat what you can and the rest goes to waste, because its not WORTH eating. When you have something in abundance, you only use what you need the rest is worthless. So flooding the markets with more money.... is not the solution to this problem. A lot of people say 2012 is going to be a bad economic year, but, I say, we should get through 2010 before even thinking about 2011, nevermind 2012. The usa, is going to have a very hard time getting through the next few months. Which could cause global trouble too. The minute other countries stop using the U.S dollar, is when the sh!t hits the fan.

Fabulous points guys! I'm writing this stuff down. Keep it going.

Originally posted by xxshadowfaxx
[...]
The U.S markets are going to crash, because there is too much money to handle. [...]

i respectfully disagree about doing a serious 'crash'->

As the DOW & NYSE are the playing field for HFT among the big players and the 'Primary Dealers'
that the FED has bestowed the title to....

the 'markets' (as manipulated as they are) will remain the bench-mark that tells the world that the USA
in in a constant recovery mode.... (sheeze what a facricated twist of data= 'Lie')
So, by all logic the 'market' will try to keep pace with the increases in Gold/Silver etc.
[as for myself... i will continue to invest 50-100 $ increments in my DRP stock accounts for as long as the market keeps going UP , which is until the big players 'get out- enmasse'

hey, for a minimal $300-500-700-1200 kind of investment into dividend-paying-stocks...i have plenty
of wiggle room before the big excape from stock equities... the gains won't be enormous but...
i've got to play the non-gold markets too...

Oh my, this morning at 7:30 AM gold is at 1418/ounce, up almost 16 dollars today. Let's see, gold was around 1414, then it got sent down to 1407, my prediction is that they won't be able to push it down below 1400 again, I'm surprised it's this high already, I wouldn't be surprised if gold was 1450 by the end of this week.

yeap, gold keeps rising.

Im not a rich guy so i did what little i could do. about a year ago i started buying gold nugets on the scale of grains and grams. Its way to much for me to buy any now but i would have to say im at 5 grams now. I know its not alot but at least its something. I made all those purchases around the 1,150 an ounce mark.

I believe today Germany released a statement saying the USA has lived on borrowed money for too long. And China pretty much called Ben Bernanke and idiot today as well.

Also heard wheat is up 40% year todate today and surger 50% year to date. i would say get ready for the REAL economic down turn!

Gold is at 1420 and the DOW is down 33 points below 11400 at 11373. The QE2 brought the DOW up for about a day while gold continues to skyrocket. I think anyone who has money in the dow deserves this kind of thrashing.

All the gold I bought this year, I gave away. I've still got the silver I bought this year. What's really amazing is how much silver has increased in value since I started buying it. It's increased 52% of what I invested. The gold to silver ratio when I started buying silver was 66 to 1. Right now it's 49.26 to 1. I can't wait, I'm sure it's going to go to it's historic level of 15 to 1. It's just a matter of time.

Major dip in gold price, but it still is staying above 1400. No doubt the price will go up again, but just take a look at that plunge, if that is not manipulation then it makes no sense, but then again if its manipulated why are they doing it at all? Maybe they have foreknowledge of the dips and they make money off the ups and downs. But logically, when gold is rising so much, why would it dip so suddenly? We all know it's just gonna increase again. Seems like all that is happening is the delay of higher gold prices...for a while.

Silver led the PM markets today...both up, and down. No honest trader saw the late session massacre coming...only the connected crooks. It was blatantly obvious that the cartel ran the sell-stops with advanced knowledge of today's after market announcement.

Raising margin requirements to re-establish control of a run-away precious metals market is by now an old ploy...and with a limited shelf life. Across the past 10 years, how many times has the CME engaged this tactic at critical junctures on behalf of the bullion banks ? I've actually lost count.

Update: Raise in CME Silver Margins Prompts After-Hours Sell-Off

reply to post by OBE1


there's something screwy going on this morning...or maybe a computer glitch....or maybe my eyes...don't know.
woke up silver was up over 28 and down quite a bit...
less than an hour later, it was a little above 25....and breaking even...
now, it's 27.71 and down.....$1.24???????

if it's that high now and down that much, it must of went from 26 whatever to 29 really fast, and then dropped just as fast....
plunge protection team??? computer glitch on apmex?? just unusual volitality???

just wierd!!!

forgive me guys, i don't own bars of gold.

but what does that mean for 24kt jewelry?

can you get that price?

Silver is my metal of choice, it hit 28.00 at one point yesterday. Also take a look at copper, starting to look prety good at near 4.00 perlb. There are a couple of metals us poor folk can still attain