Oh My Poor GOLD !!!!

[Mega]

Its
Getting
K I L L E D !!!!!!!!!!!!!!!!!!!!
Mike

[LargoWinch]

Re: Oh My Poor GOLD !!!!

Its
Getting
K I L L E D !!!!!!!!!!!!!!!!!!!!
Mike

Yeah! early boxing day special on PMs!

Dec 04, 2009 11:15 NY Time Change Silver 18.53 -0.28 Platinum 1442.00 -40.00 Palladium 379.00 -2.00 Rhodium 2,360.00 -40.00

[Shakespear]

Re: Oh My Poor GOLD !!!!

Amazing watching this

The power of Electronic Trading :eek:

[hayekvindicated]

Re: Oh My Poor GOLD !!!!

Love it.

The idiot crowds were beginning to think about piling in. That would have unncessarily turned it too early into a bubble. This way it keeps the weak hands away (the weak hands only join when the price moves up every day relentlessly).

If it drops below $1000, I may buy more. Have more cash building up in my accounts and need to do something with it. Unfortunately, want to buy oil but can't as the price refuses to go down.

[Slimprofits]

Re: Oh My Poor GOLD !!!!

I would think every little correction on the way up should be celebrated, not cried about like a glass of spilled beer.

[sishya]

Re: Oh My Poor GOLD !!!!

I bought some Physical Gold today at $1168/oz.
Added more at $1158/oz.

[goadam1]

Re: Oh My Poor GOLD !!!!

What is that sound? It's the sound of Gold crashing. What's that ring? It's the phone ringing on a margin call on someone's paper gold trade. Let's see if 1000 is the floor. I'll buy more physical around that number.

[bull-bear]

Re: Oh My Poor GOLD !!!!

No doubt a good correction was needed. But what's going on at BuillionVault - the spreads are enormous? No willing sellers obviously, but I would have thought BullionVault would have created liquidity from spot purchases or reserves offered back onto their market. But it seems not. So do those of us that use BuiilionVault have a rather serious liquidity risk when things change in a hurry (both on the upside and downside)? Anyone know more about this?

[WildspitzE]

Re: Oh My Poor GOLD !!!!

Is there a way to look back at the spread history on BV to see if his has happened before? and if so, how it plays out?

[bull-bear]

Re: Oh My Poor GOLD !!!!

Curiouser and curiuoser. After offer bids being apparently "frozen" for some time, with spreads greater than $US100 per oz in the US and Zurich markets, things are back to normal, with spreads normalish for times of rapid action and uncertainty (c. $10). I still wonder what was going on there for a while, and whether it represents any liquidity risk to Bullionvault users. Anyone know more? Maybe it's just that I logged on after the end of the US markets, and so BullionVault wasn't paying close attention for a while (Saturday morning here in the Antipodes :cool: )

[bull-bear]

Re: Oh My Poor GOLD !!!!

Not that I know of. Being in the Southern Hemisphere, so out of phase with markets, I have seen odd times when there has been for some while no gold on offer or bid, but only for the US market. But never for the Zurich or London markets, and never before seen $US100 spreads :eek:.

[goadam1]

Re: Oh My Poor GOLD !!!!

keep your friends close and your money closer.

[bull-bear]

Re: Oh My Poor GOLD !!!!

Yes of course. But with the thought of spreading risk a bit - some readily (or so I thought) convertable to cash, some in hard form, etc etc

[*T*]

Re: Oh My Poor GOLD !!!!

Curiouser and curiuoser. After offer bids being apparently "frozen" for some time, with spreads greater than $US100 per oz in the US and Zurich markets, things are back to normal, with spreads normalish for times of rapid action and uncertainty (c. $10). I still wonder what was going on there for a while, and whether it represents any liquidity risk to Bullionvault users. Anyone know more? Maybe it's just that I logged on after the end of the US markets, and so BullionVault wasn't paying close attention for a while (Saturday morning here in the Antipodes :cool: )

My feeling is that much of the liquidity is provided by bots, and those bots are probably told to stop trading if there is a move faster than a certain amount.

[bull-bear]

Re: Oh My Poor GOLD !!!!

Ahh, that could be it. Sure caused me a few anxious moments :eek:, and worse I couldn't buy on the biggest dip. Oh well, I expect this is not the last of the jitters, with more dip-buying opportunities ahead.