Current Gold Price

Lord Beria3 · Post by **Lord Beria3** » 29 Jul 2011, 23:10

http://www.proactiveinvestors.co.uk/com ... 31307.html

Sovereign debt worries here in Europe and in the US could push the gold price up to US$2,500 an ounce, and possibly even as high as US$5,000 ounce, according to research from Citigroup.

UndercoverElephant · Post by **UndercoverElephant** » 29 Jul 2011, 23:16

Lord Beria3 wrote:http://www.proactiveinvestors.co.uk/com ... 31307.html

Sovereign debt worries here in Europe and in the US could push the gold price up to US$2,500 an ounce, and possibly even as high as US$5,000 ounce, according to research from Citigroup.

OK....a few more of those round yellow things....

My pr.......

JohnB · Post by **JohnB** » 29 Jul 2011, 23:18

UndercoverElephant wrote:

You've shaved off your beard

.

Ludwig · Post by **Ludwig** » 29 Jul 2011, 23:26

UndercoverElephant wrote: So I'm not sure. I'm still thinking of buying more precious metals, because I now know I'm not going to have enough cash to buy my sister out of her half of my late father's property. So I've got £60,000 losing money in cash accounts. How much should I turn into precious metals?????????

My general rule, which is based on nothing whatsoever, is to do something risky with half my cash and nothing with the other half. Basically a way of saying don't bet more than you can afford to lose. Mind you, £60K is way more than I've ever had to invest.

UndercoverElephant · Post by **UndercoverElephant** » 29 Jul 2011, 23:26

JohnB wrote:
UndercoverElephant wrote:
You've shaved off your beard .

It fell out. Silver poisoning...

UndercoverElephant · Post by **UndercoverElephant** » 29 Jul 2011, 23:28

Ludwig wrote:
UndercoverElephant wrote: So I'm not sure. I'm still thinking of buying more precious metals, because I now know I'm not going to have enough cash to buy my sister out of her half of my late father's property. So I've got £60,000 losing money in cash accounts. How much should I turn into precious metals?????????
My general rule, which is based on nothing whatsoever, is to do something risky with half my cash and nothing with the other half. Basically a way of saying don't bet more than you can afford to lose.

That only works if you assume leaving it as cash isn't going to mean I lose it. Which is riskier? Precious metals or fiat currency?

Mind you, £60K is way more than I've ever had to invest.

*anker-scam proceeds. I didn't earn it.

UndercoverElephant · Post by **UndercoverElephant** » 31 Jul 2011, 22:39

UndercoverElephant wrote: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.

From bullionbypost:

Metalor 1 Kilo Silver Bar *** Next stock 1 week ***
Umicore 1 Kilo Silver Bar ** Next stock 2 weeks **

Watch this space.

UndercoverElephant · Post by **UndercoverElephant** » 01 Aug 2011, 17:25

This is getting silly.

The debt ceiling deal hasn't even been signed yet, but the rally expected because of the loss of uncertainty is already over. Why? Because the moment people thought they could take their eye off what was going on in Washington the crisis in Europe took off again - Italy this time.

Both gold and silver are now trading at all-time highs in sterling.

Lord Beria3 · Post by **Lord Beria3** » 01 Aug 2011, 20:44

Love the headline in the Ft...

http://www.ft.com/intl/cms/s/0/f976aa92 ... z1ToAUxp8x

Growth worries kill debt deal rally

Sums up the predicament the world economy faces and why it is doomed to collapse probably quite soon.

tymeric · Post by **tymeric** » 02 Aug 2011, 06:57

http://www.bbc.co.uk/news/business-14368064

South Korea's central bank has confirmed it has made its first purchase of gold in 13 years.

The purchase of 25 tonnes of gold shows the bank is diversifying its foreign exchange reserves away from the US dollar.

UndercoverElephant · Post by **UndercoverElephant** » 02 Aug 2011, 16:48

Gold now flirting with £1010. Hopefully it will dip sharply when they finally sign this bill off in Washington.

Lord Beria3 · Post by **Lord Beria3** » 02 Aug 2011, 18:56

http://www.caseyresearch.com/cdd/predic ... price-gold

From this, we can make some projections. If gold were to match the average 20.7% rise from our July 1 low (assuming that low holds), we would hit $1,790 this fall, probably in November or December. And the price of gold on December 30 (the last trading day of the year) would be $1,729.

In fact, given that there’s no end in sight to the sovereign debt issues here and abroad (regardless of the resolution to the U.S. debt talks), I’d bet the average gains are exceeded. If gold matches the greatest fall and year-end increases, we’d see $1,980 and $1,925, respectively. That may look like an aggressive move from here, but consider that those levels are still far below any inflation-adjusted price from the 1980 peak. Even the smallest climb, 10.6%, would leave us at $1,640, meaning current levels aren’t the high for the year.

On silver...

If silver were to match its 34.6% average autumn rise, we’d hit $45.56 sometime this fall (assuming the July 1 low of $33.85 holds), and end the year at $42.41. However, given that we’ve already exceeded these prices this year, and that silver is increasingly being used as a monetary metal, I think we’ll see higher levels. A 50% rise would take us to $50.77, and matching last year’s biggest jump of 76.8% would get us to within a few pennies of $60. Either way, assuming no major reversal, $40 silver shouldn’t be the high for the year.

I agree with these estimates... still room for profits even now for both gold and silver for the rest of the year.

UndercoverElephant · Post by **UndercoverElephant** » 03 Aug 2011, 11:05

http://blogs.forbes.com/charleskadlec/2 ... beginning/

Fundamental reform of the world’s monetary system has begun. It is way too early and too amorphous to be front-page news. We are only at the beginning of the beginning of a popular effort to restore gold backed money to the center of economic activity.

RogerCO · Post by **RogerCO** » 03 Aug 2011, 12:31

Gold up 2.7% today. Now showing spot price 1017.25/TroyOz

When's the next downtick coming to provide a buying opportunity? Seems to have been steadily up since 25th July.

UndercoverElephant · Post by **UndercoverElephant** » 03 Aug 2011, 12:55

RogerCO wrote:Gold up 2.7% today. Now showing spot price 1017.25/TroyOz

When's the next downtick coming to provide a buying opportunity? Seems to have been steadily up since 25th July.

I'm not sure there's going to be one. Will gold ever go back below £1000? Maybe not.

I was waiting for a dip, but given what has happened since the debt ceiling hike was agreed, I'm worried that this is the start of the next big leg up. There's a lot of talk on Bloomberg and CNBC about QE3 coming.