The Gold thread

langball said:
phoenix, as you requested; I put some money in rabodirects mlim gold fund ... it lost a good bit of its gains in may but it on the way back up now. Theres a lot of good information collected daily by http://www.kitco.com and the guy over at http://www.gold.ie - but they are trying to get you to buy physical gold. A lot of commentators reckon that it could x4 in the event of a dollar collapse http://www.dollarcollapse.com/ - i read john rubinos book on the dollar collapse but want convinced enough to put in more than 5% of my €
Click to expand...

Can you provide a link. Could only find the funds. (and that rabodirect site plays havoc with my settings...the main reason why i put some funds into northern rock if i remember well)
 
Fed's Fisher: Inflation greatest risk to US, Aug 16, 2006
Inflation is still the greatest risk to the U.S. economy, and policy-makers will not hesitate to raise interest rates again if incoming data shows it is necessary, Dallas Federal Reserve Bank President Richard Fisher said on Wednesday.

"There is a definite increase in inflationary momentum," Fisher said at a luncheon by a commercial real estate group. "The Federal Reserve will not tolerate inflation," he added, terming it the Lex Luthor to the "Superman" United States economy, referring to the superhero's nemesis. Inflation "is a sinister force that has the capacity to charm and romance the heck out of you, but in the end wreaks only havoc," he said.

http://today.reuters.com/news/artic...WBT005789_RTRUKOC_0_US-ECONOMY-FED-FISHER.xml
 
Well W2DW was right and I was wrong. Gold didn't dip under the $600 mark on its usual Aug weakness. Moving strongly now - $635 but I wouldn't be too discouraged if you didn't buy in, you haven't missed the boat.

Sept. is gold's strongest month and it is only starting. I wouldn't be surprised if it hit $700 an ounce by month end.

[broken link removed]
 
So you have discovered moneyweek.com, what do you think of it. They have been banging on about gold and silver for the last 4 years and also commodities. Do you think they are worth subscribing too. I picked up a few good company tips from them when they gave more of this info out free, however now to obtain this info you now have to subscribe. Also marc faber was another who gave out free market advice, but lately he only gives out this info if you subscribe. It seems they are now in big demand
 
Only just came across the article so I wouldn't be sure. In 8 out of every 10 years you can buy gold in mid to late August and hold it until December for profit. This holds true even during gold bear markets.

If gold holds above the $640 level then I would say this is the real deal and a genuine rally to $750 by year end.
 
just sent an email to mespil house /www.gold.ie to see what they would offer me for a mexican 50 peso gold coin i have , i tried spinks some time ago and got no reply from them, maybe these dealers just want to sell their gold
 
Nah, most of them will buy alright. Peso's are 1.2oz coins right? Depending on the year, whether it PCGS certified and purity, I'd say it's worth anywhere between $640 - $1,400.

I'd hang to it though if I were you, be worth a lot more next year.
 
well i got it given to me by a friend before she died about 10 years ago ,and to dangerous to wear nowadays so im going to sell it,mounting probably worth around 200 euros
 
Yeah, if it's a 1947 Mexican gold 50 peso in good condition I imagine you'll get about $900 for it. If you are not in a hurry to sell it for any reason I'd hang onto it (even until the end of the month) and you'll get a better price.
 
This guy is still free...
[broken link removed]

fyi - I now have 22% of my net worth divided b/n 3 prec metals mutual funds (denominated in a mix of currencies- no US$) and bullion.
 
Thought this might be of interest

[broken link removed]

Gold is undervalued, under-owned and under-appreciated. It is most assuredly not well understood by most investors. At the
beginning of the 1970’s, when gold was about to undertake its historic move from U.S. $35 per oz to over U.S. $800 per oz in the
succeeding 10 years, the same observations would have been valid. The only difference this time is that the fundamentals for
gold are actually better.
 
Just been reading an article in dailywealth.com (found it browsing) by Dr. Steve Sjuggerud and is recomending some telecoms companies. His reasnoning is that every other asset is now highly valued and therefore there are not bargains. However he says that telecoms are still hated after the dotcom boom. Some of these companies have P/E ratios of 10 and are paying dividends of 6% upwards. One of them is australian. He thinks they are not going to return to being loved again but less hated and that may result in rises from depressed levels. I know this isn't about gold but ....
 
I think you should open a separate thread if you want to discuss the merits of telecoms investment.

Gold is after falling heavily today. Seemed to get dragged down with a general market sell-off. Good buying opportunity IMO.
 
This might sound daft, but i have'nt a clue how to go about investing a few bob in gold ,it wont be much about k5 but i dont want physical gold so where do i go with this money and what form of gold do i invest in ,any advice is appreciated thank's .corky
 
hi corky..you should read back throught the comments on this post..we have discussed lots of gold investment options already..
 
There goes $600, next stop $550??
http://finance.yahoo.com/q?s=GLD

The three precious metals funds that I own are actually holding up quite well. One in particular, Sentry Select Precious Metals (CD$) is actually up over the last week or so, I think it had a large holding in Glamis (which got bought out by GoldCorp) which helped. While the pain of correction here is severe, I think it just demonstrates the benefits of averaging into a range of precious metal/gold oriented mutual funds. Having said that I will be a buyer of the physical if/when we see $550/oz.
 
Being long on gold and crude and short on a lot of the main stock market indices isn't a whole lot of fun at the moment!

I think $550 an oz is a real possibility now. I think Sept 26th is when the central banks make their decision on whether to sell their gold or not. If they decide not to it could provide an impetus for a rally into Oct.

Commodities investment is not for the faint hearted anyway ...
 
room305 said:
Commodities investment is not for the faint hearted anyway ...
Click to expand...

...but the potential returns are out of this world.

A very good friend of mine with close to 7 figures invested was down $70k last December 05, followed by making up $110k in January 06. Can you imagine, that's most peoples gross salaries FFS. And yet he remains FULLY invested (a la prec metals, energy, commodities) despite being well aware of pending US recession. He's up untold %'s overall in the last 4yrs, but the ride has been far far from smooth.
 
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