Current Gold Price

UndercoverElephant · Post by **UndercoverElephant** » 18 Jul 2011, 14:36

Flirting with £997 a bit earlier...

GlynG · Post by **GlynG** » 18 Jul 2011, 16:05

Over £1,000 / oz for the first time now

Lord Beria3 · Post by **Lord Beria3** » 18 Jul 2011, 19:04

Wow!!!

I recently posted that it would reach £,1000 by august!!

Lord Beria3 · Post by **Lord Beria3** » 18 Jul 2011, 19:10

http://blogs.forbes.com/baldwin/2011/07 ... k-go-bust/

Forbes basically saying buy gold! to its rich readers. This is a pretty dark warning signal for America's superrich.

UndercoverElephant · Post by **UndercoverElephant** » 18 Jul 2011, 23:18

http://www.dailymarkets.com/stock/2011/ ... me-report/

Silver was the leader, rising more than 12 percent, followed closely by coal (up 11.95 percent). Other commodities increasing in value included gold (5.6 percent), crude oil (3.83 percent)...

Hmmm. Silver, coal, gold, oil.....

UndercoverElephant · Post by **UndercoverElephant** » 21 Jul 2011, 16:31

http://www.bbc.co.uk/news/business-14239794

Global shares jump on reports of eurozone debt deal

Gold suddenly back down to £980, where it is meeting some resistance...

UndercoverElephant · Post by **UndercoverElephant** » 25 Jul 2011, 18:30

Full length movie (May 2011) "Why Gold and Silver?"

http://www.youtube.com/watch?v=E5VNAEmmBQM

If the debt ceiling is raised then gold and silver will dip again. Another chance to buy.

Lord Beria3 · Post by **Lord Beria3** » 29 Jul 2011, 20:39

http://blogs.forbes.com/afontevecchia/2 ... ey-supply/

Another interesting approach is to look at money supply and measures of the money stock. Since September 2008, the U.S. monetary base has increased by more than 200%, compared with a rise in the price of gold of about 70%. “If the two had been directly related, gold should already have risen to around $2,800.” (Watch Like Gold But Can’t Handle The Volatility, Check Out The Miners).

Looking only at M2, the U.S. broad money aggregate, it has only risen 20% in that time period. “The ratios of gold prices to US M2 and nominal GDP are already some way above their long-run averages,” reads the report.

The analysts chose to remain a bit more conservative, seeing the price of gold hitting $2,000 by 2012, but, given the current, crazy environment, they would “not be surprised to see prices reach this level sooner and then rise significantly further.

Consensus is rise to $2000 - something I have been calling... for this year.

UndercoverElephant · Post by **UndercoverElephant** » 29 Jul 2011, 21:02

I think the point we need to be looking for is when it starts to become difficult to actually get hold of physical gold and silver. Either that or the price you actually have to pay for physical starts diverging from the paper price.

Lord Beria3 · Post by **Lord Beria3** » 29 Jul 2011, 22:06

Agreed UE.

Going to try and scrape some money next month and acquire a bit more gold... exciting times are coming!

Lord Beria3 · Post by **Lord Beria3** » 29 Jul 2011, 22:19

http://www.arabianmoney.net/gold-silver ... than-gold/

Summer time is a chance for re-reading investment classics at ArabianMoney. We’ve just been dipping into the 2008 ‘Guide to Investing in Gold and Silver’ by Michael Maloney, and find that pretty much everything he predicted has come right.

If you bought silver when this book came out then you have probably doubled your money today, and briefly sat on a three-fold profit back in April this year. ArabianMoney is confident that April’s spike will be passed this autumn, so loading up on silver in the quiet summer months is our best tip right now (click here).

Silver, not gold

However, we were still struck by Mr. Maloney’s conclusion that the silver price will one day exceed that of gold. That is an absolutely extraordinary claim as striking now as it was three years ago.

The thing is that physical silver is in very short supply, and the situation in the Comex futures market is one of artifical price suppression that teeters on the brink of a breakdown. How else could any commodity be priced at less than it was 30 years ago?

Physical shortage

So if the Comex price fixing is broken by overwhelming physical demand, and a momentum trade develops in a tighly supplied market then you do have the potential for an exponentially soaring silver price. Those presently stashing their insurance money in gold would therefore be tempted to switch part of it into silver, and so the price would go up and up.

Perhaps in that dynamic the price of gold might begin to weaken, or certainly not to rise at all. Silver could then in a super price spike shoot past the gold price. But this would be like the dot-com bubble of the late 90s and after a short time the speculative fever would burn out and the price collapse.

However, the point to note is that silver prices are low now with massive upside potential if the bull market in precious metals continues and the global economy does not fall into a deflationary depression.

Getting into silver has potential for MASSIVE potential profits potentially very soon.

We are talking about over 20 times its current value...

If you already have some gold, a bit of diversification into silver as a speculative play is a smart move. Don't forget though, sell when it hits these insane levels (assuming they do) because the price will collapse quickly.

Gold is a more sensible longer term investment in your security, silver is a once in a generation chance to develop a seizable financial fortune which you can invest in hard assets like land and property without working or inheriting a fortune.

Ludwig · Post by **Ludwig** » 29 Jul 2011, 22:23

I am certainly not getting "excited" about a potential rise in gold prices... Certainly it will prove useful in the medium term, the question is how much use it will be after TSHTF.

UndercoverElephant · Post by **UndercoverElephant** » 29 Jul 2011, 22:37

Lord Beria3 wrote:http://www.arabianmoney.net/gold-silver ... than-gold/

Summer time is a chance for re-reading investment classics at ArabianMoney. We’ve just been dipping into the 2008 ‘Guide to Investing in Gold and Silver’ by Michael Maloney, and find that pretty much everything he predicted has come right.

If you bought silver when this book came out then you have probably doubled your money today, and briefly sat on a three-fold profit back in April this year. ArabianMoney is confident that April’s spike will be passed this autumn, so loading up on silver in the quiet summer months is our best tip right now (click here).

Silver, not gold

However, we were still struck by Mr. Maloney’s conclusion that the silver price will one day exceed that of gold. That is an absolutely extraordinary claim as striking now as it was three years ago.

The thing is that physical silver is in very short supply, and the situation in the Comex futures market is one of artifical price suppression that teeters on the brink of a breakdown. How else could any commodity be priced at less than it was 30 years ago?

Physical shortage

So if the Comex price fixing is broken by overwhelming physical demand, and a momentum trade develops in a tighly supplied market then you do have the potential for an exponentially soaring silver price. Those presently stashing their insurance money in gold would therefore be tempted to switch part of it into silver, and so the price would go up and up.

Perhaps in that dynamic the price of gold might begin to weaken, or certainly not to rise at all. Silver could then in a super price spike shoot past the gold price. But this would be like the dot-com bubble of the late 90s and after a short time the speculative fever would burn out and the price collapse.

However, the point to note is that silver prices are low now with massive upside potential if the bull market in precious metals continues and the global economy does not fall into a deflationary depression.
Getting into silver has potential for MASSIVE potential profits potentially very soon.

We are talking about over 20 times its current value...

If you already have some gold, a bit of diversification into silver as a speculative play is a smart move. Don't forget though, sell when it hits these insane levels (assuming they do) because the price will collapse quickly.

Gold is a more sensible longer term investment in your security, silver is a once in a generation chance to develop a seizable financial fortune which you can invest in hard assets like land and property without working or inheriting a fortune.

Maybe, maybe not.

Yes, stockpiles of silver are low. Yes, it is a very useful industrial metal. Yes, the price has been manipulated WAY downwards. BUT....there's a lot of silver which is unprofitable to mine at these artificially depressed prices, and if/when the price were to get anywhere near the price of gold, silver mines would open up all over Mexico, Peru and various other places.

Lord Beria3 · Post by **Lord Beria3** » 29 Jul 2011, 22:43

UE - the superspike in silver is going to be a very short term thing.

Setting up silver mines is a process which takes YEARS. This is a speculative move in the markets caused by a frenzied fear of a collapsing $100 trillion bond market.

Silver is fantastically cheap.

Ludwig - where I disagree with you is that I think we will see a shift into scarcity industrialism - a protectionist, authoritarian economic model.

UndercoverElephant · Post by **UndercoverElephant** » 29 Jul 2011, 22:43

Ludwig wrote:I am certainly not getting "excited" about a potential rise in gold prices... Certainly it will prove useful in the medium term, the question is how much use it will be after TSHTF.

Depends whether you believe in a very fast crash, a fast-ish crash or a painfully slow "long descent." I'm betting that there will still be something resembling the modern world for quite some time yet, and in such a world it will be possible to exchange precious metals for something more useful. It's just money, nothing else.

I'm not "excited" about rising gold prices either, apart from its connection to TEOTWAKI, which I am indeed excited about.

What I am worried about is not that my precious metals will ever be useless but that they will be so valuable that the powers that be will seek to confiscate them from me at non-free-market prices.