Still time to buy gold imo. - Page 133 - Economics -- Two Plus Two Poker Forums

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Still time to buy gold imo.

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Page 133 of 206

First

33 83 113 123 128 129 130 131 132 133 134 135 136 137 138 143 153 183

Last

01-26-2011 , 01:35 PM

#3301

Nitrub

Pooh-Bah

Join Date: Mar 2008 Posts: 4,386

oh yes, bougth GDXJ yesterday @ 62.7, no more dips for u

01-27-2011 , 02:09 PM

#3302

J.R.

Econ Forum Czar

Join Date: Sep 2002 Posts: 8,292

Quote:

January 26, 2011 DAVOS, Switzerland (AP) — It may be time to stop referring to China, the world’s second-biggest economy after the U.S., as an emerging nation and focus on creating jobs now that the global recovery appears to have gotten a toehold.

That’s what top business leaders, politicians and social activists discussed, among other issues, on the first day of the World Economic Forum on Wednesday.

… The 2,500 participants at this year’s meeting have focused much of their concentrated expertise on China‘s growing clout, simmering anxieties about Europe’s debt crisis and consideration of the possible aftershocks of the financial crisis…

China and India have both sent their biggest-ever delegations to this year’s forum, spearheaded by business leaders seeking to plant their flags on a world stage previously dominated by U.S. and European companies.

… The theme of this year’s meeting is “Shared Norms for the New Reality,” and part of that includes the new economic reality…

Later Wednesday, the five-day meeting features a keynote address Wednesday evening by Russian President Dmitry Medvedev, who postponed his planned arrival by a day after a suicide bombing killed 35 people in the country’s busiest airport amid lax security.

RS comments:

Quote:

As the BRIC countries continue to step up to a higher profile on the world economic stage, it is worth bearing in mind that three of the four (Brazil remains quiet) openly hold the merits of gold in relatively high regard. As for the developed countries, the Eurosystem is already in sync with that view (at least insofar as the central bank is concerned), leaving the U.S. with a considerable amount of monetary soul-searching yet to do. Yet in a clear sign of the changing times, the recent comments by Robert Zoellick (of the Washington-based World Bank) and Thomas Hoenig (of the Kansas City Fed) indicate that the thoughts of policy-makers are at least already trending in this direction

01-27-2011 , 02:11 PM

#3303

J.R.

Econ Forum Czar

Join Date: Sep 2002 Posts: 8,292

Quote:

… To understand where gold prices are headed this year, it is important to recognize that most of the selling in recent weeks has come from U.S. and European short-term institutional traders and speculators — banks, trading firms, commodity funds, and hedge funds — operating mostly in derivative markets, some simply taking profits, others betting on the downward momentum of the market, and many reacting to the reversal of “safe-haven” funds that late last year sought security in U.S. dollar assets and gold.

These players have no long-term view of gold and certainly no allegiance to the metal as an inflation hedge, store of value, portfolio diversifier, insurance policy, and traditional savings medium. They simply sense a profitable trading opportunity. Today gold is in their sights. Tomorrow, it may be petroleum, cocoa, rice, steel or long-term U.S. Treasuries. And, one day they will be buying gold again.

… Big premiums (over New York and London prices) on gold bars in Hong Kong, Mumbai, and other gold-trading centers across the region indicate a shortage of physical metal as refiners struggle to meet strong demand for the various bar sizes popular in the Asian markets.

… Significantly, this dichotomy between buyers and sellers means that gold is moving into very strong hands and much of this metal is unlikely to come back to the market anytime soon.

Randy

Quote:

RS View: This point cannot be stressed enough. It is important to bear in mind that the institutional traders and speculators who are cited as the sellers in this market are for the most part selling only paper gold, and while it does take its toll upon the general price level, it does nothing to supply metal to alleviate the physical tightness being caused by those who are doing the actual buying in this asymmetrical and systemically vulnerable market structure.

The bizarre situation could conceivably unfold where the derivatives are increasingly discounted relative to the metal which trades increasingly at a premium — all to the point where the paper shorts and the metal longs may each claim a legitimate pricing victory at the same time. (Sometimes in the real world the arbitrage opportunities simply don’t pan out the way the textbooks suggest they should!)

The only true losers in the market could be the cognitively conflicted paper longs and the reckless metal shorts.

01-28-2011 , 11:52 AM

#3304

tolbiny

Carpal \'Tunnel

Join Date: Mar 2004 Posts: 10,448

Quote:

Originally Posted by tolbiny

Bought back into most of my long GLD calls position today. Saved a bit for the chance of a real beat down in the near future- will be putting that in the next few weeks in all liklihood.

fully into my calls after buying in april silver contracts today. Up up and away (one time?)!

01-28-2011 , 11:52 AM

#3305

J.R.

Econ Forum Czar

Join Date: Sep 2002 Posts: 8,292

Quote:

Originally Posted by ZombieYellow

I have a friend who is a trader, studies the technical charts or whatever and he told me gold was headed down before this dip. Pretty amazing. I wonder just how great of a return these guys make just playing the technical data

See here:

Quote:

JPMorgan Chase kicked off the banking industry’s earnings season on Friday with news that its profits surged 48 percent last year amid signs that consumers and businesses had slowly regained their balance in the aftermath of the financial crisis.

The bank posted a $17.37 billion profit in 2010, up from $11.73 billion a year earlier, as losses on troubled loans eased.

Quote:

Originally Posted by ZombieYellow

and not concerning themselves with intrinsic value.

Not surprisingly, the intrinsic theory of value, with its obsessive focus on things like the cost of bringing items to market, has been uniformly rejected in favor of the more sensible approach predicated on marginalism. This is called the subjective theory of value. It focuses instead on people's want/need for an item as the primary determinant of value.

Carl Menger and Eugen von Böhm-Bawerk, among others, were two big thinker in the development of marginalism in the late 1800s.

01-28-2011 , 01:02 PM

#3306

tolbiny

Carpal \'Tunnel

Join Date: Mar 2004 Posts: 10,448

I know everyone is watching Egypt but turn on the silver channel for a second- its run almost $1.20 straight up in 2 hours.

01-28-2011 , 06:02 PM

#3307

fanmail

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 32,698

Nice trade so far

01-28-2011 , 06:40 PM

#3308

wiper

still catching up

Join Date: Oct 2005 Posts: 42,898

got a pretty sweet deal at the old local shop today..

two 1/10th gold eagle proofs for $150/each. with the boxes and certificates.

i almost choked when he told me the price. that's what a lot of people pay for regular 1/10th gae's, yes?

01-28-2011 , 07:04 PM

#3309

Jeremy517

Carpal \'Tunnel

Join Date: Jul 2004 Posts: 7,088

Occasional poker player Dan Shak making gold-related news

01-28-2011 , 07:16 PM

#3310

Mrmusicrecorder

veteran

Join Date: Oct 2009 Posts: 3,361

Quote:

Originally Posted by tolbiny

fully into my calls after buying in april silver contracts today. Up up and away (one time?)!

Bought July and Jan 2012 SLV calls and April GLD, selling GLD puts through next year, some hedge contracts but overall went psycho long. Still in no-man's land, but it seems we could have just seen the lows for the year.

01-28-2011 , 07:18 PM

#3311

Mrmusicrecorder

veteran

Join Date: Oct 2009 Posts: 3,361

Quote:

Originally Posted by Jeremy517

Occasional poker player Dan Shak making gold-related news

$10 mil fund, $850 mil gold positions, we have more control than we might think.

How often does Shak post in BFI?

01-28-2011 , 08:27 PM

#3312

boobies4me

veteran

Join Date: Jun 2009 Posts: 2,233

Quote:

Originally Posted by Jeremy517

Occasional poker player Dan Shak making gold-related news

wtf, sick... am pretty sure I have some mutual friends with Dan Shak.. hits so close to home.

01-30-2011 , 05:23 PM

#3313

Bigdaddydvo

King of the Politics Forum

Join Date: Aug 2004 Posts: 21,329

Really interested to see the spot market tonight after a weekend of Egypt going up in flames.

01-31-2011 , 06:55 PM

#3314

wiper

still catching up

Join Date: Oct 2005 Posts: 42,898

pretty tame all day.

01-31-2011 , 09:35 PM

#3315

Mrmusicrecorder

veteran

Join Date: Oct 2009 Posts: 3,361

Egypt was trouble before friday. The degrading of the situation is interesting, but it would have to be quite significant (permanently ousting Mubarak and radical leadership taking over) to drive any price movement in gold at this point imho.

Not much move when North Korea shelled South Korea either.

I think most everyone has accepted that WAAF, in one way or another.

02-01-2011 , 12:17 PM

#3316

Nitrub

Pooh-Bah

Join Date: Mar 2008 Posts: 4,386

Quote:

Originally Posted by Nitrub

oh yes, bougth GDXJ yesterday @ 62.7, no more dips for u

32.7 rather, up 7% already, weeee

anyone have some more recommendations what to buy? Right now I have mostly physical gold, GDXJ and some EXK

02-01-2011 , 12:23 PM

#3317

J.R.

Econ Forum Czar

Join Date: Sep 2002 Posts: 8,292

Quote:

Originally Posted by Nitrub

32.7 rather, up 7% already, weeee

anyone have some more recommendations what to buy? Right now I have mostly physical gold, GDXJ and some EXK

moar physical silver and moar physical gold

02-02-2011 , 12:17 AM

#3318

BGnight

Carpal \'Tunnel

Join Date: Aug 2005 Posts: 10,164

Quote:

Originally Posted by Nitrub

32.7 rather, up 7% already, weeee

I copied you but i got mine @ 35.1

...it's up though!

I just started playing with commodity futures....ZOMG GAMBOOOOLING! Lol, I could see how degenerates go broke quick doing this. Triple checking my stop prices ftw. Btw, shorting silver is my favorite thing cuz when I get it wrong I still win!!!

02-02-2011 , 05:09 PM

#3319

galmost

adept

Join Date: Sep 2006 Posts: 1,036

Does anyone have any experience convincing their parents to buy gold & silver?
I handed my mum a 1oz 9999 gold coin & was like 'LOOK MA REAL MONIEZ' but she was like 'ZOMG THATS SO SMALL NO WAI THATS WORTH OVER $1K'

wtf do I do?

02-02-2011 , 05:52 PM

#3320

DPatty

adept

Join Date: Apr 2007 Posts: 741

Quote:

Originally Posted by galmost

Find like-minded people such as that and offer to buy their gold jewelry for cash

02-02-2011 , 06:24 PM

#3321

Heya

old hand

Join Date: Jul 2010 Posts: 1,463

Speaking of jewelry, I was talking to a local pawnshop owner who said his business' revenue really shot up over the last three years when he started giving 70% of spot for scrap gold. Before that he was only offering 25-30% I believe he said.

The manager of that pawnshop says he can literally feel the difference between say 10k and 14k gold with his fingers. My ******** alarms went off. Is there any possible way that could be true?

02-02-2011 , 07:54 PM

#3322

Mrmusicrecorder

veteran

Join Date: Oct 2009 Posts: 3,361

Quote:

Originally Posted by galmost

Write a check for $1,500 and fold it up into a tiny square, set it next to the coin. I gave my Mom a 2 1/2 hour lecture, she was on board, I gave my father 7 lectures and I got him into hard assets, not much PM allocation but he has done well since and is safe for the future.

Quote:

wtf do I do?

Explain the situation we are in and why she should own gold.

02-02-2011 , 07:57 PM

#3323

Mrmusicrecorder

veteran

Join Date: Oct 2009 Posts: 3,361

Quote:

Originally Posted by Heya

The manager of that pawnshop says he can literally feel the difference between say 10k and 14k gold with his fingers. My ******** alarms went off. Is there any possible way that could be true?

Take him some 14k gold plated necklaces and see how much he pays.

02-03-2011 , 11:28 AM

#3324

Borodog

Enemy of the State

Join Date: Jan 2004 Posts: 25,491

Quote:

Originally Posted by Heya

The manager of that pawnshop says he can literally feel the difference between say 10k and 14k gold with his fingers. My ******** alarms went off. Is there any possible way that could be true?

I wouldn't be surprised if he could.

Then again, I wouldn't be surprised if it's ********.