Is this a good time to buy gold?
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Thanks Joseph!
And another thank you to you, Joseph.
I am buying gold/silver, steadily and without regard to the price, until I have used up all money I have, except for 5 years of living expenses.
If I am wrong, I will have gambled away several million dollars, and my heirs will only inherit a pile of shiny metal. So be it.
HA HA HA ! You will need help to carry the money ! CFS You will by a WINNER !
Well, it will never be worthless so I would say the odds in your favor are not bad!
Sorry Al but one day it will be worth nothing.
haha! -call me a sadist if you like,
but I love the sound of despondency in that voice.
-for lack of better terms 🙂
Saddist
sound lack diss ! https://www.youtube.com/watch?v=CajtV2NPu6o
DAY ARE DOING IT ! http://www.dtcc.com
Mr. Temple you should stay away from commenting on Europe.
How can one consider a coalition between UKIP (A right wing anti-Europe party)
and the National Front of France (An extreme left wing, communist Party)
Ain’t going to happen.
Nigel Farage used to be a conservative!
Le Pen is a communist.
CFS, there is a good reason we use the old expression “Politics make strange bedfellows”. The reason is because polar opposites will make peace to make coalitions if that’s what it takes to hold power.
AL THE SAME BANKER BASTERS LACKEYS !!!!!!!!
Inclined to agree CFS – a bridge too and one which Farage would commit suicide to take.
I’m sure those in France (and throughout Europe for that matter) who label the Front National as far right, let alone Nazi/fascist, will be humored by your description. In any case – not that I’m holding my breath — they have a common enemy in the plutocrats who run the European Union, and would do well to follow the old adage “My enemy’s enemy is my friend.”
Nigel sounds like a reasonable person
Doc, I sure hope you took your own advice when 211 HUI fell….regardless of Gold possible hitting $1260 there are so many gold and silver stocks completely breaking down today….there is absolutely NO bullish indications anywhere!
The P&F regarding the HUI today: Descending Triple Bottom Breakdown Bearish Price Obj = 192
http://stockcharts.com/h-sc/ui?s=$HUI&p=D&yr=0&mn=5&dy=0&id=p17471317948&a=351829616&listNum=1
Day never STOP EU NEWS ! http://www.reuters.com/article/2014/05/27/us-ecb-watchdog-salary-idUSKBN0E71SN20140527
Michelle Obama urges high schoolers to monitor their families’ politically incorrect thoughts.
Pete Kasperowicz at The Blaze agreed. “First lady Michelle Obama is encouraging students to monitor their older relatives, friends and co-workers for any racially insensitive comments they might make, and to challenge those comments whenever they’re made,” he wrote.
So did Jim Treacher at The Daily Caller. “There can be no aspect of your daily life that’s removed from politics. Now you will be monitored by your own children for expressing unapproved opinions,” he wrote. “You’d better watch what you say at the dinner table, Mom and Dad,” he wrote
So, now they begin to train people to spy on their family members.
This is exactly what they did in the 30s/40s.
step by step, ya gotta love facism.
Articles on RT.
that is why you would want to .. HOME SCHOOL……..
Thanks Chris. I appreciate your point of view and agree it is Europe we need to keep our eyes on again. Gold did make its decision after a long period of indecisiveness and it has broken down. Had we been paying attention to all the gold sites out there (I actually read quite a few of them this last week for a change of pace) the consensus view was gold was about to stage a huge breakout. They could not have been more wrong. So that tells me they are drawing their conclusions from the wrong information. But the computers are less interested in GOFO rates and Germany’s gold demands and what China or India are doing……they are wired to respond to what happens with the dollar and what happens with policy right now because that is what makes money. Precious metals are getting dumped because Europe is about to loosen up and traders sense it.
Precious metals are getting dumped because Europe is about to loosen up and traders sense it.
The first place that sentiment takes place is in the currency markets….if that was the case the Euro$ would be tanking thru its 200dma looking at 134, its not The US$ index would be testing a very key level at 80.62 after clearly taking out a major trend line at 80.50 which also has the 200dma in play right now… IF Europe was driving the action we would see at least 1 cent moves in the Euro$ a 1/4% rate cut would send the Euro$ down come the next June ECB meeting but its not in play today
http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=0&mn=8&dy=0&id=p20650084039&a=352240787&listNum=1
jj, I am confused. Is Euro backed by gold? I don’t think dollar index includes gold. Maybe I am missing something. If Europe prints, dollar goes up, gold should go up by same ratio so there should be no change in gold price.
It is just the rule of thumb Lawrence. In general the dollar runs inverse to gold because at one time the dollar and gold were synonymous. In other words, to appreciate how much the dollar was weakening or strengthening you looked at how costly gold had become. The dollar/euro relationship is a bit different because they are measured against one another due to their relative weightings on a free floating basis. Honestly, it is a damned sleight of hand game if you really think it through as dollars and euros see-saw versus one another while both fall against gold simultaneously. Maybe one of the best tricks ever devised. Bit it is far from a perfect formula that when gold falls that the Euro also falls although it is a helpful rule of thumb because it so often allows you to arrive at the correct direction of metals. When we see therefore that the Euro is about to be devalued it amounts to a signal that gold is also going to be pushed down. Love it or hate it …that’s just how the formula works these days.
Bird, the GOFO rates went positive last week.
Is this supposed to be normal?
Lawrence be very careful with SLW both the daily and weekly charts are Breaking Down, not up/out
Good Luck!
I was in and out of this stock several times. I bought when it was 3 and sold at 20. I regret that. It got dividend and it makes a lot of money. Almost all silver companies are loosing money and this one should survive.
I will try my luck. Most of my gold and silver is physical and I got back to stocks only last year. I sold a lot in Febuery so I need to buy them back now.
Positive GOFO is normal.
Negative GOFO is considered to imply a shortage of physical.
Silver GOFO has been negative for a long time. This time is really strange. People are not willing to sell physical and make a profit. Seems market is no longer working the way it supposed to.
No it is not working the way I learned in Econ 101
OK thanks…I pay it no heed though except that people keep talking about it as if it mattered.
“Anti-EU sentiment sweeps elections in Europe”:
https://www.youtube.com/watch?v=EFaHgQ36jCM
And according to the American Pew Research Centre, “Pro-European sentiment on the rise in Europe, between 2013 and 2014” ! Go figure, lol…
http://www.euractiv.com/sections/eu-elections-2014/pro-european-sentiment-rise-europe-302105
Must Read!!
Norcini gives a great outline to todays action….Birdman, you might even learn something, lol
http://www.traderdannorcini.blogspot.ca/2014/05/gold-gives-up-ukraine-premium-as-bears.html
Not sure what the “laugh out loud” is supposed to imply. I appreciate Dans’ work since I started reading his site. He is obviously an intelligent guy with a lot of experience and a good moral compass. He also has his own way of looking at markets and assessing why they are moving a certain way. It need not conform to my views which often differ from how others see things.
Anyway….I really don’t see your point JJ. You did not write the article you posted so you don’t get credit for linking it and adding a LOL.
I am not sure that companies buying back their own stock is good stewardship of their cash.
From the heartland of Communist Amerika
CFS you should read this, the to da moon crowd you follow are killing the Pm’s sector with their BullShit
GOFO: http://www.traderdannorcini.blogspot.ca/2014/05/gold-gives-up-ukraine-premium-as-bears.html
Dan’s a trader.
I could just as justifiably say you traders are screwing up the true value of gold by herding like sheep and blindly following squiggles on paper.
I have no problem with you making short term profits and making gold cheaper for me.
I just know of no way to preserve purchasing power over the long term, other than real assets, which include PMs.
I own several houses, and the taxes have risen relentlessly over the last decade.
P.S. jj.
I also own a Picasso and some Dalis and more art than I can hang on my walls.
If your really that wealthy my cyber friend you should sell something a get a life away from the computer!
Again if your that wealthy why do you care if gold is $10gs or $1…..just back away from the computer and stop posting end of the world links and government wrong doings….Who Cares! would be my motto if I had a Picasso hanging beside a Dalis
I’ve heard it all……………….
jj, Because I want to preserve purchasing power.
Train yourself when you see CFS says….. to ignore anything that comes after.
If you want me to stop posting international and government news, just ask Big AL to do so.
If he tell me to stop posting, I will happily do so.
Go crazy CFS post away, sorry I just can’t figure out why you’d bother being a Billionaire and all….make no common sense, don’t you have a yacht to gas up or a formula 1 car to wax….something otherthan sitting in front of a computer.
Note to self, end it…. if I ever get to the point where I don’t have enough walls for my Dalis paintings yet I spend time positing on a blog.
Hire Jim Rogers to look after your dough and climb a pyramid…..again!
original ; cfs ; lawrence !WEEE LUKY WEEEE Have DAVID iiiiiiiiiiiiiiiiiiii https://www.youtube.com/watch?v=f0U0Te1MTCo
Funny CFS. I have a Picasso too. Damed things are common as chickens it seems! Who knew there were so many!
We collect a bit of art (paintings and glass) What is the Picaso worth?
Me too. I also own 4 houses and they are in a low tax province.
i mentioned the art not to brag, but to indicate a spreading of risk to other assets.
Excuse me.
I usually don’t brag but this is on Internet so I can tell the truth. I am sure that hard asset should increase in value when governments are printing money. The money supply has increased from 850 billion to 4.4 trillion in US alone in the 5 years. Others print as well. Gold, silver, oil, food, house, land are all good. Stock market is good too as long as it don’t not go to a bubble.
Keep you Picasso safe. I am envious.
I live in a borrowed cardboard box because I use charts to invest, one day I hope to have bed that isn’t infested with goldbugs
Sorry I’m bragging, lol
We do agree on that, Bird.
http://www.naturalnews.com/045318_fake_vaccines_DNA_harvesting_White_House.html#
Combine this with assassination by drone and you will be killed by the US just because you have the wrong genes!
Well, I cannot figure out why stocks climbing and gold tanking, either. But 3 years ago I began to transition away from the opposite expectation, and that transition was made complete in April 2013. Now I believe I am capable of hearing what the market is telling me. It is what it is. Today still hurts, though, because I still retain some physical gold in case of financial chaos. But I no longer have so much invested in gold as to cause a horrendous feeling. I tell you, I am starting to feel more like that $1900 peak in Fall 2011 is the peak for a long time. Who says that a bear market has to last only 3 years, anyway. Clearly the market has been telling us for a long time its opinion on gold and silver.
That would be true except for manipulation that paints the tape.
The short term traders are right to follow the charts.
But preserving wealth is different from making wealth.
CFS,
Agree with your preserving wealth comment, Unfortunately for me I am still somewhat in the making wealth position, I believe. Seems to me, though, why would the manipulators stop and/or stop being successful if they have been the cause. Rhetorical – not directed at you.
To all the fundamentalists (of which I include myself) fundamentals don’t matter in the short term!!! So many people say that they buy gold and silver for insurance, while in the next breath they say they buy juniors for leverage. They fret when gold dips $26+ in a day and get excited when it goes up the same amount. If you buy for gold or pm /commodity stocks for the long term but watch it daily you’re going to give yourself a heart attack. ( Al this includes you) If you’re in the market and are paying attention you’ll notice conventional stocks are up and gold see-saws. For myself I like support and resistance barring major news, and take my profits regularly. Up until this realization of a day traders market and manipulation by the powers that be I was losing money…now I’m making it. Anyone interested in a neat small cap gold play check out gsv.v (gold standard ventures) they are in Nevada’s elephant country with a big write-up that came out today. Respectfully, Proud.
DEFINLETLY Professor!
Yes it has Derek
YOU cant introduce legislation in the EU if your a MEP.
What an absolute farce. This is criminal. There is no real representation with such a dictatorial setup.
YOu could vote in the Soviet Union to– only to agree.
1 DAY ! DAY WILL NOW !
Why do you think UKIP has grown from nothing to a major factor so quickly.
I have to agree Mr Henry
Alternative media ; Immigration England ; And when Europe comes bike the sudden stop of the Irish civil war ! AND NR 1 THE ABUSE OF ALL UNITED KINGDOM AND IRELAND ! IDIOT POWER TRIPPING POPULATION !!!!!!!!!!! https://www.youtube.com/watch?v=QuE–xlkTYk
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