Post: #1

http://www.telegraph.co.uk/finance/perso...-gold.html

I'd imagine this to be a great indicator that gold prices are going to drop drastically pretty soon. Soros' moves have pretty hefty effects.

Post: #2

Articles like these make me laugh! So what I gather from this is now is the time to buy more gold. No one is selling there gold these days and in fact alot of people/countries are stockpiling.

Did you read about the University of Texas purchasing large amounts of gold recently?

Post: #3

The difference, I think, is that Soros has a tendency to move the markets. How this will turn out, only time will tell.

Post: #4

Only time will tell if Soros' sell off was a bad move, but I'll give him props for having the confidence to put his money where his mouth is. I was watching a cable news channel today and there are now commercials selling gold to the average Joe. By the time Joe six pack is talking about investing in whatever the hot commodity is at the moment be it internet stocks, real estate, gold, etc, you know the burst is imminent. Of course the gold hawks will point to inflation and major institutions buying gold and that may put some upward pressure on the short term. But I'm willing to bet a correction is coming sooner than most people think. We heard the same shit with dotcom and real estate about how there's no way it's going down, the fundamentals are too strong. "They're not making anymore land!"

I bet the guy watching TV and ordering gold from an ad he saw on a commercial is going to take it in the ass. Just like the the guys who sold their homes in 2005 made off like bandits and those jumping in at the crest are now handing the bank the keys, credit destroyed.

Post: #5

Funny I read this article on the same day as this post:

http://www.zerohedge.com/article/china-b...to+zero%29

Post: #6

You know, I don't think Soros is making a bad move.

I believe that when QE2 ends and during the lag time between QE3, there will be a big correction in the markets. Both gold and silver will drop. QE3 will then be announced, and prices of both metals and equities will resume their climb.

I've been anticipating this move for quite some time, because it makes sense. The one that caught me completely off guard was the climb of silver into $50, which was crazy in hindsight, and its subsequent crash. That was just speculative action.


Watch Soros buy back his gold as soon as prices drop during July and August, and when QE3 is announced in sept-oct.

I may sell my silver during June, once it climbs above $40, right before QE2 ends. Silver may regress all the way back to $28 during August. It's risky, but hey, what's life without a little risk?

Post: #7

(05-20-2011 09:42 AM)Sammy Wrote:  Funny I read this article on the same day as this post:

http://www.zerohedge.com/article/china-b...to+zero%29

China is getting rid of dollars.

Post: #8

Soros isn't the only high profile fund manager who has lightened with load. A lot of guys who had their big gains last year are out.

I think the deteriorating situation with eurozone debt is a signal that highly speculative asset classes may soon see a flight to safety. That said, gold may be the one that holds steady.

Post: #9

Guys like Soros and Banks like like Goldman Sachs talk their books...

That means that when they want to buy they say they're selling. Or when they want to sell they say they're buying.

I would keep that in mind.

Post: #10

It's been close to a month since the original post, and I'm guessing a little more than a month (at least) since his supposed move, and gold has gone up $38 / 2.56%. We'll see how this moves along.

So far, two options seem to be present: 1) He missed the high, but might ultimately still be right. 2) He's wrong.

Any other hypotheses of what may be going on?

Post: #11

Dandela-

"That means that when they want to buy they say they're selling. Or when they want to sell they say they're buying."

Or they say they are "just watching" when they are buying. (Saw Jim Rogers do this one recently on the Japan disaster).

Or say something is a "good buy" when they are holding.

The key to the news is you have to be able to read between the lines.

Kerouac -

"So far, two options seem to be present: 1) He missed the high, but might ultimately still be right. 2) He's wrong."

Or a third.

He might have been early on his call, Gold will still go lower and he will buy back in.

Either way, I am guessing he made a tidy profit. Who knows, he may just have other fish to fry out there.

"and gold has gone up $38 / 2.56%"

That is basically sideways in Gold.

Post: #12

I was waiting to see if Silver would go over 40 bucks, but it hasn't so I've been holding. Meanwhile, operation twist 2 comes into play

http://www.examiner.com/finance-examiner...etary-plan

So it looks like there's no need to sell. The monetizing will keep the good times rolling.

Post: #13

(06-15-2011 11:47 PM)Samseau Wrote:  I was waiting to see if Silver would go over 40 bucks, but it hasn't so I've been holding. Meanwhile, operation twist 2 comes into play

http://www.examiner.com/finance-examiner...etary-plan

So it looks like there's no need to sell. The monetizing will keep the good times rolling.

I still see a liquidation that will be brutal, but provide enough cover (oil sub 80, stocks 20+% down) for QE 3, Twist 2, whatever. I will load up on physical and dividend paying stocks after the liquidation. QE3 is going to do nothing but pump up commodities again.

Post: #14

Quote:Gold futures skidded nearly 5% Wednesday, sinking below the $1,600 level for the first time in nearly three months, as a drop in the euro signaled a new level of anxiety about the region’s debt crisis and investors sought cash as the safest asset.

http://www.marketwatch.com/story/gold-fu...=countdown

It looks like one person was correct from the OP link from months back:

Quote:Hal Lehr, a commodity trader at Deutsche Bank, was quoted by Bloomberg as saying: "I'm bullish on gold despite its current levels. It could reach $2,000 an ounce in the next eight months."

Post: #15

All the current liquidation is temporary, but if anyone has been smart enough to trade this shit:

Good work.

Post: #16

I'm still bullish on gold and buy regularly. I'll keep buying even after it tops 2000 an ounce.

Post: #17

Gold and Silver are always long term. I don't believe what "insiders" say. They use the press to cause influence shifts to benefit their personal gains. Look at history. Gold has held its value constantly for thousands of years.

You can't discount:

Energy
Food and commodities
Gold

I'm not a big investor, I am more a observer of trends and look at the historical implications. Gold has always been the enemy of fiat currencies. When the Euro and then the USD goes belly up what will everybody rush into? All of those 3 listed above, real things always have value. Yes Gold is shady as it is probaly one of the most easily manipulated things around. And Soros is a shill talking up his counter moves. but talking long term here I would like to know how people view Gold?

Post: #18

the UK has a total debt to GDP of over 900%. Europe over 400%, US over 300%.
Ben Bernanke has studied the great depression, yet insists on taking his Keynesian approach to monetary policy, and expecting different results every time he does it.
The answer is simple.
If you trust governments to run reasonable deficits, and to effectively implement austerity measures in order to bring down the debt to gdp to reasonable (60% or less) levels, along with sticking to the Fed's dual mandate of price stability and maximum employment, then by all means that suggests a strong dollar. People will flock to dollars once Europe crashes, but then the attention turns to the US.
If you do not trust the governments to handle things properly (allow deflation), and believe that they will continue on the course they had been, devaluing the dollar, then your mind should be made up. Keep in mind, precious metals will most certainly lose value if there is a crash in the economy.
We have not had REAL growth for decades, all of this growth is from odious credit, and we are in the process of watching it all unravel.
Regarding Soros selling his gold, those were only the paper positions that he is required to report with his fund being large enough to have to report various positions (reason why he is now only managing family assets), it does not imply anything.

Post: #19

(12-19-2011 05:19 AM)johnwu Wrote:  Keep in mind, precious metals will most certainly lose value if there is a crash in the economy.

Is your reasoning for this that precious metals have insdustrial uses, and the supply and demand would therefore see a slump in demand, does that apply much to gold?

I'm guessing gold will be used as a famous store for value as trust in currency wanes. I'm guessing this would be independent of an economic crash.

I can imagine that some stores of value, such as art, would not hold as much value in the event of a crash, and I understand that we can't eat gold and so it's intrinsic value is only what we agree that it is. But we have such a history of agreement, and such a requirement for a store of value, that I imagine gold will remain our collective idea of the place to hold value.

In uncertain times, we decide that gold is more certain than paper. Productive farm land might be a more secure investment, but as far as a liquid portable asset, I remain confident in gold to be secure, and I'm also betting on it appreciating, although that's not my main reason for holding it.

Post: #20

Why I don't have high hopes for gold:
What's more important in this world than storing value? Creating value. Moving value from low value to high value. Would you trade a flat bed truck for some gold if you were a construction worker? Would you trade your construction crane for a few nuggets if you're a developer? In my opinion, gold is an obsolete precious metal (in terms of importance as a tool for liquid capital).

As our economies have turned away from a certain class of people accumulating wealth, and maintaining that wealth, to an economic system where we constantly create wealth, there are more useful measures than gold.

Again, some people have a hard time giving old notions up.

Now, trading gold to make money on commodity trades, now that's a different story...

Post: #21

I have my own views about AU as a investment, but everyone should make up their own mind for their investments, I cannot believe how people trust their "brokers" to make the right choices for them, most brokers are total buffoons no matter what company they work for. This is why people need to do their own due diligence, and think carefully before making a financial decision.

My reasoning for the statement that precious metals will lose values in a deflationary event, aka another economic collapse, is merely the fact that during that specific time period, people will be liquidating their cash cows, aka APPL, GLD, whatever is most liquid. Along with the fact that PM's are directly correlated to commodities, and the play on PM's is to assume that there will be an expansion of the money supply. During a deflationary event, generally speaking a certain currency would then appreciate in value as everyone is liquidating their assets. However, governments do not enjoy deflationary events, and most likely would be predisposed to more rounds of quantitative easing, printing money, after/during the event. THIS action would debase the value of the dollar, and in turn result in an increase in the prices of commodities, including precious metals.

@Kerouac - We create wealth alright, straight out of credit, there is so much debt in the system that it is reaching a point that is unsustainable. People are now worrying about the return of their money, not the return on their money. So no, people are not looking to create value, people are very very scared right now, as you can see from tbills (even WITH CB intervention). Now yes, eventually people will be looking to create value after this collapse has taken place, but then the question is in which form of "money" will transaction take place, will it be through a new IMF currency? a partially gold backed currency? rum? No one knows.

Post: #22

Soros is a billionaire not by giving away his secrets. So plain and simple this is a good time to buy GOLD, I have been stockpiling Silver like a squirrel before winter.
Soros is a misinformation specialist, currencies especially the Euro are on shaky grounds right now. People with real wealth are buying precious metals, GOLD in particular. So this news is just to throw Joe public off the scent, they want your money not for you to make money.

Post: #23

Gold is trading higher than Platinum?




I say fuck gold and platinum, it's a better bet to stock up on pork bellies! In tough times people are still gonna want their bacon!

Post: #24

(12-19-2011 03:24 PM)kerouac Wrote:  Why I don't have high hopes for gold:
What's more important in this world than storing value? Creating value.

I'm no longer able to entirely re-invest my business profits into my business, and need a store of wealth outside of the value that I create.

I plan to start new investments, but my experience is that my startup ventures are higher risk than I believe at the time that I start them up.

And so creating value is only one strategy in my portfolio. I also need to simply invest in secure stores.

Post: #25

The main thing Soros has done is move his money from bullion into gold stocks. This doesn't suggest a bursting bubble, this indicates strong market fundamentals, and a well-developed understanding of them.

http://www.arabianmoney.net/gold-silver/...ld-stocks/

http://www.mineweb.com/mineweb/view/mine...&sn=Detail

http://www.mining.com/2011/11/04/majors-...-projects/