Its not looking good for Gold...

[Mega]

...i kept my peace on this subject for sometime.........i think its going to sub $1100 before long......it might allow goverment to print a SHED full of cash though...

Mike

PS F.A.O:- EJ
http://www.worldcarfans.com/11311206...-vln-endurance

Might want to hold that M235i order Eric

[jpatter666]

Re: Its not looking good for Gold...

Definitely down -- silver sub-20, gold limit down.

I've plenty of gold -- mulling adding to the silver though.

[Mega]

Re: Its not looking good for Gold...

I bought the bulk of my Gold @ $835........then it crashed to $723 !..........i had added to it & i lost a bit on that...........am not worried.........Jan's got my back. I read Jim Rickards twitter feed today & he sez the Fed will open the taps mid way or near the end of 2014...........that should help us.

In the mean time i suspect Iran will pump & the oil price will fall.....thus Gold will as well............So my fellow Itulip-ers i can only say "Smoke them if you got them".

Sit back, be like Ali!

[DRumsfeld2000]

Re: Its not looking good for Gold...

I have started to read Martin Armstrong on gold and things in general. He sees gold sub $1,000 and the bottom 2-3 years from the top in 2012. From there it will rise once the tree is really shaken.
I shall hold my physical but many gold shares I have sold. Still got a few shares and they are taking a beating.
I am still convinced that this so called economic recovery is simply a fake up. There is probably another 18months of this left.

[GRG55]

Re: Its not looking good for Gold...

I have started to read Martin Armstrong on gold and things in general. He sees gold sub $1,000 and the bottom 2-3 years from the top in 2012. From there it will rise once the tree is really shaken.
I shall hold my physical but many gold shares I have sold. Still got a few shares and they are taking a beating.
I am still convinced that this so called economic recovery is simply a fake up. There is probably another 18months of this left.

The mining shares look like they are setting up for a real washout confirmation after getting hammered last spring. I find it interesting that some prominent deep value investors like Ned Goodman and Seth Klarman have been buying select Canadian gold mining shares recently.

[jpatter666]

Re: Its not looking good for Gold...

The mining shares look like they are setting up for a real washout confirmation after getting hammered last spring. I find it interesting that some prominent deep value investors like Ned Goodman and Seth Klarman have been buying select Canadian gold mining shares recently.

Yep -- I bought some gold miner shares some time back basically using them as a long-term call option. Fortunately I was just nibbling as they got executed even from (what I thought) were low values. Even lower now -- and as we all know can always go lower.

I have a few baskets (GDX/GDXJ) but mostly picking individual companies in "safe" countries such as the US/Canada. If and when gold takes off, quite possible mining taxes or outright confiscation will occur in other countries.

Still, in this massively overpriced market, gold miners are IMO one of the few contrarian plays that could return deep value over the next decade. Just be prepared for a bumpy ride and don't overcommit.

[gwynedd1]

Re: Its not looking good for Gold...

Yep -- I bought some gold miner shares some time back basically using them as a long-term call option. Fortunately I was just nibbling as they got executed even from (what I thought) were low values. Even lower now -- and as we all know can always go lower.

I have a few baskets (GDX/GDXJ) but mostly picking individual companies in "safe" countries such as the US/Canada. If and when gold takes off, quite possible mining taxes or outright confiscation will occur in other countries.

Still, in this massively overpriced market, gold miners are IMO one of the few contrarian plays that could return deep value over the next decade. Just be prepared for a bumpy ride and don't overcommit.

Gold and silver are heading back to the marginal cost to produce. Lower energy prices will also put downward pressure on it.

http://www.forbes.com/sites/kitconew...e-environment/

Looks like those who missed out on cheap insurance may get a chance to purchase.

[lektrode]

Re: Its not looking good for Gold...

Yep -- I bought some gold miner shares some time back basically using them as a long-term call option. Fortunately I was just nibbling as they got executed even from (what I thought) were low values. Even lower now -- and as we all know can always go lower.

I have a few baskets (GDX/GDXJ) but mostly picking individual companies in "safe" countries such as the US/Canada. If and when gold takes off, quite possible mining taxes or outright confiscation will occur in other countries.

Still, in this massively overpriced market, gold miners are IMO one of the few contrarian plays that could return deep value over the next decade. Just be prepared for a bumpy ride and don't overcommit.

+1
have been thinking same (uh oh... i can almost feel it - "lek sez he likes miners, SELL EM ALL NOW..." ;)
but seems to be a gen'l dislike for commodities at the moment - well.. all the past year - with the red stuff (copper) down quite a bit, with oil in a lower range etc - but eye note BTU is up from where you were talking about getting in, eh jp? (i hesitated, missed the upstroke and decided to pass, after making a few bux on JRCC, giving most of it back and thinking the coal play isnt quite ripe enuf for picking - and after waiting on other deals to close/free up some cash, bounded right into CDE (with 1/2 of my allocation, at just over 1/2book value, waiting on 'rumored EOY tax selling season' - and lookin better /cheaper today at 10.49 - hoping for 10 or so, to split the avg to get total holdings to just at/under 1/2 supposed book value - the NUGT (my fave craps table - would've been a better bet on DUST, but just can quite get myself to jump on that one) - getting smoked today tho

- and ritholz on the yaaHOOEY tv this am - with aside comment from the interviewer offering "for every bubble theres a prick..." - sez 'all this bubble talk - in stocks - by the media is a sure sign there still isnt one' - course we heard same about the yellow stuff not too long ago and look what happened...

but sure looks like 'our friends' over at the squid are playing their usual game:

Goldman Predicts Significant Losses for Gold, Iron Ore in 2014

and another saying the SP500 'could' to drop 10% next year ??

wonder what the back office crew is buying today....

and this just in: (nuthin like a little 'clarity & direction' - dont ya just lu`uv the mixed messages in the subheads ?...)

Gold hits 4-month low after Fed signals stimulus withdrawal

16 minutes ago

* Gold ticks up after 2.5 percent drop the previous sessio

* Fed minutes revive talk of stimulus tapering in December
* U.S. PPI down 0.2 percent in Oct, weekly jobless claims fall

By Clara Denina
LONDON, Nov 21 (Reuters) - Gold hit a four-month low on Thursday, hurt by speculation the U.S. Federal Reserve might be able to start scaling back its monetary stimulus soon.

In the Oct. 29-30 Fed policy meeting minutes released on Wednesday, officials indicated that they could decide to start reducing the asset purchases at one of their next few meetings provided this was warranted by economic growth.

Many in the markets took that to mean the programme could be trimmed earlier than consensus forecasts, which had been pointing to March.

Spot gold hit its lowest level since July 9 at $1,237.09 an ounce, extending a fall of 2.5 percent seen on Wednesday, when the metal posted its biggest daily loss in seven weeks. It was down 0.3 percent to $1,239/16 an ounce by 1528 GMT.

U.S. gold futures for December delivery fell 1.5 percent to $1,238.90 an ounce.

"There is some re-pricing due to the new expectation regarding the view on tapering especially after the Fed minutes yesterday and today's fairly good economic data," Credit Suisse commodity analyst Karim Cherif said.

U.S. data suggested stronger labour market conditions and subdued inflation pressures.

U.S. weekly jobless claims fell more than expected last week, while U.S. producer prices fell for a second straight month in October.

Recent U.S. economic statistics were generally looking better and a solid jobs report for November would increase the likelihood that the Fed would start to scale back bond buying at its meeting next month, St. Louis Fed President James Bullard said on Wednesday.

Gold has been boosted by the U.S. central bank's quantitative easing measures, hitting an all-time high of $1,920 an ounce in 2011, as increased financial liquidity and a low interest rate environment encouraged investors to put money into non-interest-bearing assets.

But a recovery in the U.S. economy this year has prompted the Fed to consider rolling back its stimulus and bullion has lost about a quarter of its value so far in 2013.

Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 2.70 tonnes to a four-and-a-half-year low of 860.31 tonnes on Wednesday.

Physical demand in Asia picked up due to the lower price levels, but not to a great extent, according to dealers.

Silver rose 0.3 percent at $19.84 an ounce, having touched its lowest since mid-August on Wednesday.
Spot platinum rose 0.3 percent to $1,393.99 an ounce, while spot palladium gained 0.7 percent to $713.75 an ounce.

Switzerland's palladium imports rose to a five-month high in October, data from the Swiss customs office showed, after those from Germany climbed to their highest in 3-1/2 years.

yep, wonder what the squid REALLY thinks, there in the back room where they make the REAL money...

[LorenS]

Re: Its not looking good for Gold...

I can't say too much, but I've heard that some manufacturers are twisting arms in the design groups to get them to design gold out of their product flow. The replacement is copper. If we lived in a vacuum copper would be superior in all respects, it conducts heat and electricity better and is much cheaper. The problem is we live in an Oxygen atmosphere and copper corrodes. Between RoHS compliant solder and copper wires your newly manufactured electronics are becoming far less robust. Lead is easy to recycle, it's not easy to find a good replacement for solder - same with gold. The next time you have an electronic device that just fails for no apparent reason it just might be RoHS solder and/ or copper corrosion (of course ESD will continue to be the primary culprit).

I'm OK with lower gold prices if it helps keep my electronics reliable.

[jpatter666]

Re: Its not looking good for Gold...

+1
have been thinking same (uh oh... i can almost feel it - "lek sez he likes miners, SELL EM ALL NOW..." ;)
but seems to be a gen'l dislike for commodities at the moment - well.. all the past year - with the red stuff (copper) down quite a bit, with oil in a lower range etc - but eye note BTU is up from where you were talking about getting in, eh jp? (i hesitated, missed the upstroke and decided to pass, after making a few bux on JRCC, giving most of it back and thinking the coal play isnt quite ripe enuf for picking - and after waiting on other deals to close/free up some cash, bounded right into CDE (with 1/2 of my allocation, at just over 1/2book value, waiting on 'rumored EOY tax selling season' - and lookin better /cheaper today at 10.49 - hoping for 10 or so, to split the avg to get total holdings to just at/under 1/2 supposed book value - the NUGT (my fave craps table - would've been a better bet on DUST, but just can quite get myself to jump on that one) - getting smoked today tho

- and ritholz on the yaaHOOEY tv this am - with aside comment from the interviewer offering "for every bubble theres a prick..." - sez 'all this bubble talk - in stocks - by the media is a sure sign there still isnt one' - course we heard same about the yellow stuff not too long ago and look what happened...

but sure looks like 'our friends' over at the squid are playing their usual game:

Goldman Predicts Significant Losses for Gold, Iron Ore in 2014

and another saying the SP500 'could' to drop 10% next year ??

wonder what the back office crew is buying today....

and this just in: (nuthin like a little 'clarity & direction' - dont ya just lu`uv the mixed messages in the subheads ?...)

Gold hits 4-month low after Fed signals stimulus withdrawal



yep, wonder what the squid REALLY thinks, there in the back room where they make the REAL money...

Yep, BTU above my buy-in although not significantly. Since I'm too busy these days to relentlessly focus on my portfolio, I try to buy stocks that I'm willing to "throw in the safe for ten years". Every now and again I review to see if the investment thesis on why I bought still holds, but otherwise I leave them alone.

I try to buy when a stock gets beaten down for no good reason (i.e. a bad piece of news that does not change the long-term fundamentals but chases out the momentum players)

The one caveat -- if a stock doubles from where I bought, I sell 25-50% of the position. That's happened to quite a few of my positions in the past few years which makes me even more concerned that this market is overblown.

Definitely an experience watching stocks levitate, housing reinflate, even bitcoin. Anything *but* gold. You'd almost think it was a conspiracy.... ;-)

[Mega]

Re: Its not looking good for Gold...

Hmmmmm
http://www.silverdoctors.com/venezue...goldman-sachs/
Mike

[Forrest]

Re: Its not looking good for Gold...

It's interesting to note that leasing that gold will get them a return of only 8%...tied to the ever manipulated LIBOR. I can't help but wonder what a no-risk/low risk bond or treasury note should be at for the same 7 year period.