I would plan on selling PMs when some sanity is returned to global monetary policy... I predict that it will take a buying frenzy on gold to make this happen. Basically, a situation very similar to 1980.

Your question asks for a prediction of what price gold will top. I assume you mean in dollars.

Nobody knows. My guess is that gold will top out in a blow off, parabolic "mania" like it did in 1980 or the NASDAQ did in 1999.

Once the general public catches "gold fever" to the extent that heretofore obscure junior mining shares are the darlings of Wall Street (because physical gold is nigh impossible to find and the public has to buy miners to participate), it'll be time to get out.

http://www.abc.net.au/reslib/200902/r341231_1553262.asx

Mary Kissel editor of WSJ asia editorial page being interviewed about japan on lateline

Jimbo, you ask for proof but you never offer any for your view, you just ramble like a politician answering a question about a bailout package or the taliban or just be sarcastic like a comment was beneath you.

You still can't tell me why the USD has any long term upside and you can't tell me why we won't be entering into a depression within 3 years.

You will say, you tell me why. I can say um, we are broke, our manufacturing getting a lot worse, we are creating trillion+ every few months out of nothing , unemployment getting worse and worse every month, government close to nationalizing banks and all this while we have $14 trillion national debt, $3 trillion deficit and $55 trillion in future **** and you will be like, that doesn't explain why we will be going into a depression.

It's actually pretty funny.

It's similar to creationists, you can show them clear evidence and logic for evolution and they will just be like "That's what you get from all that"

Do you even know what the Federal Reserve is, and who profits from the money it lends to the United States and how it's existence as a supplier of our money basically means they run the country and dictate policy for their own purposes?

Prolls not

Guess I just gotta and move on.

The awesome part about exchange rates is, they're relative. America might be in a depression soon. Japan already is in one. Europe has completely ineffectual economic governance, and even less going for in productivity wise than the US. What currency is going to be magic?

Here is the problem with your reasoning and it is contained within your post above, I highlighted it to make it easier to spot. You can say "pigs fly" that doesn't make them fly. You can't even explain how the dollar and gold are going up in tandem and that is very simple to understand. Until you show at least a small semblance of understanding relative currency values your opinions are little more than mild entertainment.

Hi,

I'm in Australia. If I want to short gold if/when it hits ~$1200 how do I do it?

And say I want to buy like $US30k of the Chinese Yuan, whats a good place to do it within being slugged by stupidly big fees?

The dollar is going up as well with Gold because the dollar has a phoney perception of safety , people getting rid of assets and accumulating dollars so they feel secure, this will not last of course cause the dollar is not safe, the more the gov does exactly what they are doing people will spend these dollars on real assets that they need for now and preparing for years to come and when everybody does this nobody will want dollars in exchange for their "real value" then the dollar sinks cause the perception will reflect what the Gov has and is doing now to it.

And gold is also going up cause vs most other currencies it is making new highs and both them going up shows that investors are worried about the global economic stability outside of the US and they are preparing for the worst.

Here are the 3 talking points for a Jimbo response about the economy

1. That's what you say, who are you.

2. Provide an extreme analogy relating facts about our economy to pigs flying.

3. Not answer ANY questions and just pose other questions to get off subject.

You are the Bill Oreilly of 2p2 Jimby

Well, after years of arguing on 2p2 that gold is a silly investment and should not be one of the main features of a long term portfolio, I find it necessary now to make the plunge and buy some gold. Let me disclaim this post by saying I still think gold is a lousy, non-functioning long-term investment and I do not plan to have it as a major part of my portfolio for an extended period of time.

The reason I am buying gold to protect myself in two situations: one is a SHTF scenario, and another is to have some liquid, inflation-resistant assets if a period of stagflation occurs. While I think a SHTF scenario is extremely unlikely--5% at best--I think having a real plan for how to survive in this situation is important. Owning some gold seems to me to be a decent start. I think stagflation is much more likely--I would guess a 1/5 chance of occuring--and gold would be a worthwhile investment in this scenario, as a liquid, inflation-resistant form of savings. However, I plan on investing more in domestic and international ETFs to handle stagflation in the long run from a portfolio standpoint. The main interest in gold for stagflation is the liquidity.

It sounds like bullion is my best bet to meet these goals.

My questions are:
-Is bullion the right way for me to buy gold to meet these goals?
-How does one actually buy the gold and have it transferred into one's physical possession?
-What types of fees are associated with doing this through a reputable vendor? Any suggestions? Any sucker deals to avoid?

Thanks for your help.

The fact that you made that post is pretty bullish for gold imo... don't have time now, will respond later if no one gets to it first.

Gold went back over $1000 just a little while ago.

Right, and the DOW is tanking to new lows...

I wish I had had this revelation a few days ago. Luckily I'm massively cash ATM, so I can't really complain.

If I were you I would seriously look at silver and platinum over gold. I think physical possession is your best bet. I would pick up a lot of silver before I even considered buying gold @ these prices. I would compare prices and buy whatever seems like a good deal whether it's 100 oz or 10 oz or 1 oz silver pieces or 90%... if you buy platinum you will not have much variety to choose from.
Looking back I wish I had bought more 10 oz bars of silver, but you can never have enough junk silver or 1 oz denominations either.

Try
coloradogold.com
apmex.com
bulliondirect.com
tulving.com
midasresources.com ( wanted to add I believe this site is having a special where you get Creature from Jekyll Island book + A Silver Dollar for $26, which is a very good deal, I don't know if they're still running the offer for not but can't hurt to ask if you call them anyways )

all of these sites will ship directly to your house ( expect them to hold onto your money for a while before they ship out ). If you're worried about IRS/ have crazy amounts of money / it might be worth going to a local dealer and paying cash so that you don't create a paper trail... I guess it depends how paranoid you are.

None of these sites are selling metal @ spot price, but usually you can find a reasonable deal. The fees / etc are pretty straight forward... the prices you see on the site are the prices you'll pay. Shipping and Handling is usually 2% of your order max, I aim to keep this to under 1% which isn't too hard to do if you're making a reasonably large order. If you're planning on needing this money in 6 months and have to cash out the (buy/sell spread) transaction fees are going to hurt you a little bit, but if you're hoping to hold for 2-20+ years you will be extremely glad to have the silver in your physical possession.

i currently have 12% of my monies in this:

http://www.h-l.co.uk/funds/security_.../sedol/B12B5S0

please check the fund, it is a gold mining fund.

i want to increase the amount of money i have invested in PMs to 25%, though the most i can do right now up to 16% due to a lot of my monies i cant get my hands on.

i am tempted to start buying gold bars (place i know sells them and is trustworthy and based in london). to increase it by this amount, i could buy a bar 100g bar. is this foolish? would i be better to buy say 8 x 10g and 1 x 5g bar assuming it would be about 15% more expensive to buy smaller bar sizes?

edit: i will also try to get some silver but seems hard to find anywhere in london i can go into the shop and buy it. edit2: http://www.atsbullion.com/ looks very safe given right next to the Savoy and sells gold and silver edit3: here is their list http://www.atsbullion.com/search.php?mode=search if you had £5k to spend ($7k), what would you buy? coins? bars? i have no idea unfortunately what is wisest.

John if I were you i'd start buying up those 1 kilogram silver bars... as well as some 1oz silver pieces.. also try to pick up some 1 oz platinum coins or smaller ones if they have them. If the price difference is that big, I would get a couple of 100g bars if you can, and also maybe 5x 10g and 5x 5g bars... I would be looking to drop the serious money in silver/platinum though instead of gold. Bottom line though anything you can get your hands on is a lot better than nothing... it's pretty common for smaller denominations to cost significantly more than larger ones... so don't feel bad about paying a premium for a couple if you don't have any smaller denominations yet... just don't go crazy loading up either...

super thanks v much. ive looked further into their website and i simply need to go into the shop, pay for what i want, and they deliver it to where i want them to. will get this sorted within the next week or two.



i also have one other question. apologies in advance if it is very basic. in the last 18 months:

the World MSCI in $ is down 50%
the World MSCI in £ is down 20%

i do not understand this. i appreciate it must be due to the £ falling vs the $, but could someone please explain this.

by investing in either of these, would i be protected against a specific £ and/or $ collapse?

i do want to hold a small proportion in equities, just do not want global stock markets to be even yet i lose because the £ tanks.

Jimbo, what are your views exactly? I would love to pick your brain.

I don't know where you can short gold... I am curious what your logic is behind shorting gold b/c i think if you short gold for the next 2-3 years I can guarantee you your net worth will be 0$. When are you going to cover, theoretically speaking, assuming gold keeps going up? 1,500? 2,000? What if its 2 years from now and gold is up to 3,000.... would you short more? I assume you won't be able to short any gold @ 3,000 but maybe I am wrong here... I would much rather buy commodities than short commodities. I will double down and be greedy if my investment goes sour. If your short goes sour, you're just gonna be really ****ed. If gas goes down to 50 cents and silver goes down to 4 dollars and my grocery bill goes back to 25$ a week sure I will be kind of ****ed but I can double down and stock up on more ammo, groceries, silver, etc. Basically the problem with your investment is infinite downside and very little upside...

That said, gold is probably already @ 1200$ AUD so you better start looking for someone crazy enough to lend you gold with any kind of leverage.

john i would get 1 oz rounds of silver - I would try to get something kind of recognizable like maybe JM rounds or ones issued by a govt like canadia mint US silver eagle austia philharmonic maybe ... these will probably run you like
16$ or so right now... maybe a bit higher
300 x 16 = 4800$
4 x one KG bars 525x4=2100$

total $6900

If you only have 7000 US to put in real metals I would highly recommend getting all silver or pick up a few 1/2 or 1/4 oz platinum/gold coins but only like 1 oz worth or so, silver is going to do much better than gold.

i figured the kg bars @ 15$ / oz and 1 oz rounds @ 16/ oz prices might be a bit higher or lower i'm not really sure i didnt see any but thats my guess what it would cost me to order around here, maybe even a bit higher it does depend a lot on what 1 oz round you get... ask the dealer what he feels like is the most liquid piece of silver, see if you can tell what items have the tightest spread. like most people in the US seem to like eagles the most... they are highest priced here but maybe maples are most sought after in canada.

Also I just want to say, don't feel like you are missing the boat because you didn't get in early enough. The dow is going to go to 20 ounces of silver and lower by the end of this. I truly believe that especially silver is an absolute bargain anywhere below 30- even 50 an ounce.

Looking over the sites, apmex appears to be pretty good. Are we positive this is totally legit, and ships you pure metals?

Also, I like collecting coins from third world countries I go to anyways, so it would be fun to get silvers and golds from Mexico, Chile, etc. I would like to have some tangible value out of these things since you have to pay over melt value anyways. Are these somehow 'worse' than other coins, like Canadians?

they're legit have dealt w them before. the more recognizable, the more liquid, the better, in general. a lot of dealers might screw you over if you go to sell something they dont recognize right away.. however if you get 1 coin from chile, 1 from mexico, and 20 easily recognizable ones you'll be fine... easily recognizable : krugerrand, american eagles, canadian maples, philharmonics, engelhart, johnson mattley, 90% silver, credit suisse etc - basically the bigger namebrand, more uniform items are the most liquid, and may also carry the highest premium over spot because of this. Like I've said previously, I'd go for silver right now...

I think the best deal right now might be 15.76 / per 10 oz bar from tulving.com min order is 50 bars though... spot + 1.19 they're Amark brand which is decent not best but... good price

bulliondirect has 10 oz bars for 15.92 + S/H, but that 15.76 above includes S/H... no 50 bar minimum though

thanks a lot for all this info, im 100% going to buy soon. ive said it before but now ive found this place which is a) in london and b) delivers, that's everything ive been looking for.

ill post with my first purchase. given ive already got around $25k in gold mining shares via a fund i should def by buying more physical silver than gold to even out my holdings somewhat.

thanks again

i want some actual AUD

where do i get them and what should I pay over XE.com ?

Yeah, I'll hit both silver and gold per your suggestion--before I was planning on only getting gold. I want something light and compact in gold, but I realize silver has better upside potential. I don't know the ratios of the metals yet; depends how much money I ultimately put into it.

I will probably buy a combination of bars and bullion. Most of the weight will probably be in silver coins.

Thanks a lot for you help.