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Gold going up this year?
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When i run out of bread, i probably will eat you if i dont have gold bar to exchange for food. hahahA! We will kill each other and the whole world will be in a choas.
iPunter ( Date: 17-May-2010 21:26) Posted:
If bread is scarce, it may cost a bar of gold to buy tiny a loaf...
hehehe... 
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If bread is scarce, it may cost a bar of gold to buy tiny a loaf...
hehehe...
Ozone, we are into a very interesting topic as in : if paper money not in use any more, those who owns the gold, can they also survive? You have any scenario to quote and discuss, plse do so! Tks :)
But for me, if i were to be BreadTalk boss, will i sell my shop to you in exchange for your gold? I think i will not, because , my family and i need food, and the bread is the only food i have at hand. I dont need any other things for that time being except basic survivior.
P/s - right now, can gold bar earns you interest and dividends?
ozone2002 ( Date: 17-May-2010 17:35) Posted:
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those with paper / fiat money will be standing outside breaktalk with a wheelbarrow full of paper
money...
the ones with gold, own breadtalk.. :)
alexchia01 ( Date: 17-May-2010 16:33) Posted:
Why do you think hyperinflation is coming? I understand we'll
have inflation because as more money are printed, commodities price goes
up. But, Hyperinflation is a very serious problem. It is
when everyone has loss hope in paper currencies and dumping them for
commodities. Although right now, the Euro is badly beaten down,
but I don't think the world will not be abandon it. At least not in a
situation like this one. A sudden fall in Euro could spark an
hyperinflation, but the world can afford a hyperinflation or any
government will allow it. If an hyperinflation occurs, you and
I'll be queuing outside breadtalk, buying a loaf of bread for hundreds
or thousands of dollar.
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Breadtalk is '
pengsan' lately...
Price dropping so much these few days...
those with paper / fiat money will be standing outside breaktalk with a wheelbarrow full of paper
money...
the ones with gold, own breadtalk.. :)
alexchia01 ( Date: 17-May-2010 16:33) Posted:
Why do you think hyperinflation is coming? I understand we'll
have inflation because as more money are printed, commodities price goes
up. But, Hyperinflation is a very serious problem. It is
when everyone has loss hope in paper currencies and dumping them for
commodities. Although right now, the Euro is badly beaten down,
but I don't think the world will not be abandon it. At least not in a
situation like this one. A sudden fall in Euro could spark an
hyperinflation, but the world can afford a hyperinflation or any
government will allow it. If an hyperinflation occurs, you and
I'll be queuing outside breadtalk, buying a loaf of bread for hundreds
or thousands of dollar.
ozone2002 ( Date: 17-May-2010 14:58) Posted:
watch this video called "meltup" by the National Inflation Agency from the US..
u'll know inflation n hyperinflation is coming our way..
only way to protect/ preserve wealth is by buying precious metals..
good luck to those who are holding cash or fiat money.. |
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Oh, someone want to buy from me at $50. Tks for your info. :)
alexchia01 ( Date: 17-May-2010 16:53) Posted:
Gold is $55 per gram from bank and $63 per gram from retail. Your bracelet actually cost more.
niuyear ( Date: 17-May-2010 16:41) Posted:
Now gold it is $50 per gram. so my $3500 bracelet cld be sold for double now which cost $24 per gram. Design out of date.
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Gold is $55 per gram from bank and $63 per gram from retail.
Your bracelet actually cost more.
niuyear ( Date: 17-May-2010 16:41) Posted:
Now gold it is $50 per gram. so my $3500 bracelet cld be sold for double now which cost $24 per gram. Design out of date.
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Now gold it is $50 per gram. so my $3500 bracelet cld be sold for double now which cost $24 per gram. Design out of date.
Why do you think hyperinflation is coming?
I understand we'll
have inflation because as more money are printed, commodities price goes
up.
But, Hyperinflation is a very serious problem.
It is
when everyone has loss hope in paper currencies and dumping them for
commodities.
Although right now, the Euro is badly beaten down,
but I don't think the world will not be abandon it. At least not in a
situation like this one.
A sudden fall in Euro could spark an
hyperinflation, but the world can afford a hyperinflation or any
government will allow it.
If an hyperinflation occurs, you and
I'll be queuing outside breadtalk, buying a loaf of bread for hundreds
or thousands of dollar.
ozone2002 ( Date: 17-May-2010 14:58) Posted:
watch this video called "meltup" by the National Inflation Agency from the US..
u'll know inflation n hyperinflation is coming our way..
only way to protect/ preserve wealth is by buying precious metals..
good luck to those who are holding cash or fiat money.. |
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watch this video called "meltup" by the National Inflation Agency from the US..
u'll know inflation n hyperinflation is coming our way..
only way to protect/ preserve wealth is by buying precious metals..
good luck to those who are holding cash or fiat money..
Jim Roger had shorted heavily last few weeks, and he had bought gold for a while. Are both he and partners selling gold now to retailers? :)
Hulumas ( Date: 14-May-2010 20:21) Posted:
UNDERWEIGHT!
ozone2002 ( Date: 14-May-2010 09:58) Posted:
This is what happens when countries decide to debase their currencies and print money. Europeans are panicking into gold. In both Euro and Dollar terms gold closed at a record high on Wednesday. What is surprising about gold’s rise in dollars is that it is happening when the dollar is strengthening against other currencies, bullish indeed. We may be entering the manic phase of the gold (and silver) bull market
Gold Sales Surge at Austrian Mint on Greece’s Crisis
Gold Sales Surge at Austrian Mint on Greece’s Crisis May 12 (Bloomberg) — Muenze Oesterreich AG, the Austrian mint that makes the best-selling gold coin in Europe and Japan, said sales jumped in recent weeks on concern that Greece’s fiscal crisis will hurt the euro. Buyers have purchased 243,500 ounces of gold since April 26, compared with 205,300 ounces in the first quarter, Vienna- based Marketing Director Kerry Tattersall said by telephone today. Bullion climbed to a record $1,245.07 an ounce today and reached all-time highs in other currencies. “We’re seeing people who want to take money from savings accounts and put it into gold, so it’s small investors who are buying, too,” Tattersall said. “In the last three to four weeks, we haven’t seen any orders out of the U.S. or Japan. It’s a purely European increase. It represents panic buying.” The precious metal, heading for a 10th annual gain, advanced as investors questioned whether a loan package worth almost $1 trillion will prevent a repetition of Greece’s debt crisis in other European states. The euro has dropped 11 percent against the dollar this year, and bullion climbed to a record 982.6727 euros an ounce today. “As long as confidence is under threat in Europe, gold should continue to be on the receiving end of elevated physical demand,” Edel Tully, an analyst at UBS AG in London, said today in a report. German Demand Stronger demand from individual investors is particularly evident in Germany, Tully said. Support for Chancellor Angela Merkel’s Christian Democrats plunged in a state election this month after lawmakers authorized as much as 22.4 billion euros ($28.3 billion) of loans for Greece that polls indicate most Germans oppose. The Austrian mint is known for the Philharmonic gold coin, which it introduced in 1989. “We’re facing production problems again and are producing around the clock,” Tattersall said. “Our stock is running out.” |
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- We are very close to a global monetary crisis. All fiat currencies are in
trouble. Would you rather have gold which is money for 5000+ years or pieces of
fiat currencies printed out of thin air by profligate governments? The choice is
obvious: Gold ! The Euro has collapsed to the $1.23x handle against the USD. So
much for the bailout last weekend. It only supported the Euro for 10 minutes to
$1.30x before it collapsed to $1.27x. The Daily Mail UK reports:
Fears that the
euro is heading for collapse have prompted panic buying of gold coins and bars.
Austria’s mint, which makes a bestselling gold coin, has warned it may run out
of stock as investors seek a safe haven from Europe’s threatened
currency.
And banking giant UBS reported its sales desks are
‘exceptionally busy’ coping with heightened demand for coins and small bars,
much of it coming from Germany. Swiss refinery Argor-Heraeus estimates demand
for small gold bars and minted products has jumped tenfold since the start of
the year.
The news came as the euro took another fall amid fears that
the £640billion EU/IMF rescue plan hatched over the weekend would fail to secure
the single currency’s future. Against the dollar, the single currency fell under
$1.254 – not far from the 14-month low of $1.25 it struck a week ago. Marcus
Grubb, of the World Gold Council, an industry body representing miners, said
there was anecdotal evidence of a sharp increase in purchases of coins.
‘
‘There has been a spike in demand for physical products in the past
week or so,’ said Mr Grubb. ‘Scepticism about the euro has been strongest in
Germany. Retail investors are voting with their feet and buying gold coins. They
are concerned about the currency.’
The price of gold traded at $1,233.95
a troy ounce yesterday, shy of the record $1,248.15 it hit on Wednesday. Gold is
seen as a safe haven when there are fears that paper currencies could lose their
value. At the height of the banking crisis in 2008, the U.S. mint suspended
sales of popular Buffalo and American Eagle coins because of a flood of
demand.
More recently money-printing programmes in the U.S. and Britain
have fuelled fears of inflation, and these have now spread to the euro area.
This week the European Central Bank announced it would purchase government
bonds, in a move similar to the Quantitative Easing policy undertaken by the
Bank of England.
Meanwhile some economists are warning that Greece
remains headed for a debt default, and that its woes could spread to other
eurozone countries, threatening the future of the euro. Portugal and Spain are
seen as particularly vulnerable because of their heavy debt
loads.
Yesterday the Portuguese government said it will cut wages of top
officials and temporarily raise taxes in a bid to narrow its budget deficit
faster than previously planned. The government approved increases in
value-added, personal income and corporate taxes, Prime Minister Jose Socrates
said.
This comes just a day after Spanish public sector workers were hit
by wage cuts and a pension freeze, prompting strike threats. The EU on May 10
unveiled a program of loans and ECB bond purchases in a despearate attempt to
stop the Greek debt crisis from engulfing the currency union.
Edel Tully
of UBS said in a client note: ‘As long as confidence is under threat in Europe,
gold should continue to be on the receiving end of elevated physical demand as
money look for a safe home.’
Ozone is overweight on gold. Hulu, pls dont frighten ozon leh with your solid underweight!
UNDERWEIGHT!ozone2002 ( Date: 14-May-2010 09:58) Posted:
This is what happens when countries decide to debase their currencies and print money. Europeans are panicking into gold. In both Euro and Dollar terms gold closed at a record high on Wednesday. What is surprising about gold’s rise in dollars is that it is happening when the dollar is strengthening against other currencies, bullish indeed. We may be entering the manic phase of the gold (and silver) bull market
Gold Sales Surge at Austrian Mint on Greece’s Crisis
Gold Sales Surge at Austrian Mint on Greece’s Crisis May 12 (Bloomberg) — Muenze Oesterreich AG, the Austrian mint that makes the best-selling gold coin in Europe and Japan, said sales jumped in recent weeks on concern that Greece’s fiscal crisis will hurt the euro. Buyers have purchased 243,500 ounces of gold since April 26, compared with 205,300 ounces in the first quarter, Vienna- based Marketing Director Kerry Tattersall said by telephone today. Bullion climbed to a record $1,245.07 an ounce today and reached all-time highs in other currencies. “We’re seeing people who want to take money from savings accounts and put it into gold, so it’s small investors who are buying, too,” Tattersall said. “In the last three to four weeks, we haven’t seen any orders out of the U.S. or Japan. It’s a purely European increase. It represents panic buying.” The precious metal, heading for a 10th annual gain, advanced as investors questioned whether a loan package worth almost $1 trillion will prevent a repetition of Greece’s debt crisis in other European states. The euro has dropped 11 percent against the dollar this year, and bullion climbed to a record 982.6727 euros an ounce today. “As long as confidence is under threat in Europe, gold should continue to be on the receiving end of elevated physical demand,” Edel Tully, an analyst at UBS AG in London, said today in a report. German Demand Stronger demand from individual investors is particularly evident in Germany, Tully said. Support for Chancellor Angela Merkel’s Christian Democrats plunged in a state election this month after lawmakers authorized as much as 22.4 billion euros ($28.3 billion) of loans for Greece that polls indicate most Germans oppose. The Austrian mint is known for the Philharmonic gold coin, which it introduced in 1989. “We’re facing production problems again and are producing around the clock,” Tattersall said. “Our stock is running out.” |
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This is what happens when countries decide to debase their currencies and print money. Europeans are panicking into gold. In both Euro and Dollar terms gold closed at a record high on Wednesday. What is surprising about gold’s rise in dollars is that it is happening when the dollar is strengthening against other currencies, bullish indeed. We may be entering the manic phase of the gold (and silver) bull market
Gold Sales Surge at Austrian Mint on Greece’s Crisis
Gold Sales Surge at Austrian Mint on Greece’s Crisis May 12 (Bloomberg) — Muenze Oesterreich AG, the Austrian mint that makes the best-selling gold coin in Europe and Japan, said sales jumped in recent weeks on concern that Greece’s fiscal crisis will hurt the euro. Buyers have purchased 243,500 ounces of gold since April 26, compared with 205,300 ounces in the first quarter, Vienna- based Marketing Director Kerry Tattersall said by telephone today. Bullion climbed to a record $1,245.07 an ounce today and reached all-time highs in other currencies. “We’re seeing people who want to take money from savings accounts and put it into gold, so it’s small investors who are buying, too,” Tattersall said. “In the last three to four weeks, we haven’t seen any orders out of the U.S. or Japan. It’s a purely European increase. It represents panic buying.” The precious metal, heading for a 10th annual gain, advanced as investors questioned whether a loan package worth almost $1 trillion will prevent a repetition of Greece’s debt crisis in other European states. The euro has dropped 11 percent against the dollar this year, and bullion climbed to a record 982.6727 euros an ounce today. “As long as confidence is under threat in Europe, gold should continue to be on the receiving end of elevated physical demand,” Edel Tully, an analyst at UBS AG in London, said today in a report. German Demand Stronger demand from individual investors is particularly evident in Germany, Tully said. Support for Chancellor Angela Merkel’s Christian Democrats plunged in a state election this month after lawmakers authorized as much as 22.4 billion euros ($28.3 billion) of loans for Greece that polls indicate most Germans oppose. The Austrian mint is known for the Philharmonic gold coin, which it introduced in 1989. “We’re facing production problems again and are producing around the clock,” Tattersall said. “Our stock is running out.”
It pays to listening to people who have been diligently doing their own research...
and who noticed a promising behaviour on a chart assessment, etc...
Such alerts would be a welcome godsend...
But it takes another similarly diligent person to accept the alert, though...
hehehe...
ozone2002 ( Date: 12-May-2010 09:34) Posted:
i keep saying..
makes me sound like a soothsayer..
like what des khor would call a MFT.. |
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No lar, you are one strong supporter of gold and its good you keep on posting informative info on this counter to benefit foumers who are interested . :)
ozone2002 ( Date: 12-May-2010 09:34) Posted:
i keep saying..
makes me sound like a soothsayer..
like what des khor would call a MFT.. |
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PRECIOUS-Gold slips but holds near record; ETF unchanged
* Gold falls, jewellers sell scrap
* For a technical outlook on gold, click on [ID:nSGE64B00R]
* Coming Up: Weekly U.S. Mortgage Market Index; 1100 GMT
(Updates prices, adds quotes)
By Lewa Pardomuan
SINGAPORE, May 12 (Reuters) - Gold ticked lower on
Wednesday but held near a lifetime high struck the previous day
as investors bet the euro zone debt crisis could spread beyond
Greece.
Jewellers in Asia cashed in on Tuesday's rally to a record
$1,233.65 an ounce and dealers said the metal was likely to
consolidate at current levels. But any correction could be
limited as a $1-trillion European rescue package had done
little to ease fears of euro zone debt contagion.
"I think sentiment is slightly bullish from here. We don't
really know where the top is," said Ronald Leung, director of
Lee Cheong Gold Dealers in Hong Kong. "We may be talking about
$1,250."
Spot gold XAU= was at $1,227.50 an ounce by 0248 GMT,
down $4.55 an ounce from New York's notional close on Tuesday,
when safe haven buying helped it surpass December's record.
Some dealers said gains in silver XAG= were partly
responsible for gold's rally. The white metal jumped to a
five-month high on Tuesday on buying by funds attracted by the
metal's cheap prices compared to gold, platinum and palladium,
Gold priced in euro XAUEUR=R hit another record high on
Wednesday.
For a graphic of the gold technical outlook, click:
here
"We've seen the worst and the market now needs a few days
to consolidate. We'll probably wait again for leads from the
stock markets today," said Darren Heathcote, head of trading at
Investec Australia in Sydney.
The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust (GLD: Quote, Profile, Research), said its holdings were unchanged at record
high of 1,192.150 tonnes as of May 11.
U.S. gold futures for June delivery GCM0 added $10.3 an
ounce to $1,230.6 an ounce.
Japan's Nikkei average edged up 0.5 percent on Wednesday,
defying declines in New York but there were lingering fears the
bailout package for Europe won't solve the region's deep-seated
problems. [.T] [.N]
The euro dropped on persistent worries about the euro
zone's ability to to deliver the drastic spending cuts and tax
increases needed to tackle its debt crisis, while sterling held
gains after a new UK coalition government was formed.
Precious metals prices at 0247 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 1227.50 -4.55 -0.37 12.03
Spot Silver 19.24 -0.04 -0.21 14.32
Spot Platinum 1692.75 -9.25 -0.54 15.39
Spot Palladium 530.00 -2.00 -0.38 30.70
TOCOM Gold 3666.00 75.00 +2.09 12.49
53038
TOCOM Platinum 5062.00 62.00 +1.24 15.54
13870
TOCOM Silver 58.00 2.70 +4.88 12.19
951
TOCOM Palladium 1576.00 39.00 +2.54 35.28
393
Euro/Dollar 1.2643
Dollar/Yen 92.66
TOCOM prices in yen per gram. Spot prices in $ per ounce.
i keep saying..
makes me sound like a soothsayer..
like what des khor would call a MFT..
I am not speaking against your post...
In fact, way, way back, I had benefitted as a result of your timely post alerting on a certain stock...
And I made significantly on that position...
Pse accept my gratitude... 
ozone2002 ( Date: 12-May-2010 09:22) Posted:
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i said it way back if u followed my post on gold
i will keep saying until the day when gold reaches its mania phase..
then i'll keep mum.. that's when i'm outta the gold market..
iPunter ( Date: 12-May-2010 09:16) Posted:
It depends on when you say that... Because saying that a few months ago and saying the same thing now is very different... The wisdom can be either obsolete, or still valid, depending on the dictates of the market forces...
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