459 replies to this topic

[aucu]

mtdesmoines, on Monday, June 1st, 2009, 7:38 AM, said:

I don't know. What do you think is going to happen to the dollar in the next 3 years?

That's the 64 dollar question and no one really knows but the 10 year trend is down and the status of the US$ as the reserve currency of choice is in doubt.

[El Guapo]

aucu, on Tuesday, June 2nd, 2009, 6:55 AM, said:

That's the 64 dollar question and no one really knows but the 10 year trend is down and the status of the US$ as the reserve currency of choice is in doubt.

I really don't think this is true. What is the currency of choice going to be, the Euro?China and Japan are still buying the crap out of our treasuries, even with the low yields.

[mtdesmoines]

^^^^^^^^^^^

aucu, on Tuesday, June 2nd, 2009, 5:55 AM, said:

That's the 64 dollar question and no one really knows but the 10 year trend is down and the status of the US$ as the reserve currency of choice is in doubt.

Agreed. Just because its future is dim doesn't mean that it's still not going to be the best reserve currency out there. All currencies will follow the dollar, at least for the next 5 years. I'm thinking the dollar will fall, but will be more stable than other currencies, so gold will prob be a good investment.

[aucu]

No one doubted the US$ in the cold war years but now you always here talk of a "basket of currencies" being used but the Buck is the largest egg in the basket. The Euro has been a big win but the problem with Europe has always been the same thing, Russia can squash them in 100 different ways. The US has those wonderfull oceans around it but have been spending like a drunken sailor since Nixon ditched the gold standard.In the end all paper money is only as strong as the economy/government that backs it up, how strong will any of the G-7 or G-20 economies be in 3-5 years? If you think none then buy gold acordingly.

[Mercury69]

Top Top!

[aucu]

So gold has been making a move the last couple of weeks touching $1020Can't see it going up much more short term, have unloaded 100% of my gold related stocks at this point.Longer term I still like it as the USA has lost all control over spending and the US$ will tank at some time.Will wait for a pull back to get in again.

[aucu]

This kind of BS can really ruin my week,,,,http://www.news.com....779-951,00.htmlTHE International Monetary Fund will sell 403.3 tonnes of its gold reserves, worth an estimated $A15 billion, to provide loans to poor countries and shore up its finances.While the fund's executive board said it decided on Friday to sell its stocks in a way that would not disrupt commodity markets, gold prices are expected to be hit hard.Sign up to the PerthNow Business newsletterGold has been seen as a safe haven during the global economic crisis and recently breached $US1000 an ounce for the first time. Australia is the world's fourth-largest gold miner behind China, the US and South Africa, producing 232 tonnes last year worth $8.6 billion. When Australia sold most of its gold reserves in 1997 _ which was only 167 tonnes _ it drove the price down to a then 20-year low of just over $US250 an ounce. The IMF sale represents an eighth of the Washington-based fund's 3217-tonne gold reserves. The IMF said the decision was a core element of a new income model to make it less dependent on its lending revenue to cover expenses and allow it to offer favourable conditions on loans to the poorest countries. It said in a statement that sales would be ``in a volume strictly limited to 403.3 metric tonnes, with these sales to be conducted under modalities that safeguard against disruption of the gold market''. ``The new income model is designed to provide the fund with more diverse income sources that are better aligned with the variety of functions performed by the fund, with a central component being the funding of an endowment with the profits from these limited gold sales,'' the IMF said. The sales ``will also increase the fund's resources for lending to low-income countries'', a strategy that won board backing in July. ``I am delighted that the executive board has given its overwhelming backing to a strictly limited sale of fund gold to put the financing of the IMF on a sound long-term footing, and enable us to step up much-needed concessional lending to the poorest countries,'' IMF managing director Dominique Strauss-Kahn said. ``These sales will be conducted in a responsible and transparent manner that avoids disruption of the gold market.'' Board approval required an 85 per cent majority of the total IMF voting power. The US, by far the largest stakeholder, gave its green light after Congress passed legislation authorising the sale and President Barack Obama signed it into law on June 24. The fund is required by its founding document to conduct all gold sales at market prices. The IMF did not state the value of the gold to be sold, but based on the current bullish near-record market price for the metal it is estimated the sale would fetch $US13 billion ($A15 billion). Under the approved plan, the IMF would offer to sell gold directly to central banks ``or other official sector holders if there were to be interest from such holders''. A prime candidate could be China, which is sitting on the world's largest foreign exchange reserves, topping $US2 trillion, and has been seeking to diversify away from the dollar. Perth-based Stock Analysis author Peter Strachan agreed.``When it was announced, (the gold price) went down about $US5,'' he said. ``I think it will be under pressure and the Chinese will probably be buying it on the back foot. ``We might see it go down $US20-$30, but I think ultimately the Chinese will be looking at this as a great opportunity to get a big chunk of it.''Email: bennettc@sundaytimes.newsltd.com.au

[aucu]

$1035/oz today that's an all time high.http://www.marketwat...mise-2009-10-06NEW YORK (MarketWatch) -- Gold futures rose by more than 1% early on Tuesday, following a U.K.-newspaper report that Gulf oil producers, in concert with China, Russia, Japan and France, are planning to eventually end dollar-based oil pricing. The dollar came under pressure after the report, lifting dollar-denominated commodities, such as gold. In recent action, gold for December delivery gained $13, or 1.3%, to $1,031.00 an ounce.

[aucu]

Gold hit an all time high of $1087/oz today.

[strategy]

.

[Pot Odds RAC]

aucu, on Tuesday, November 3rd, 2009, 11:22 PM, said:

Gold hit an all time high of $1087/oz today.

The strangest thing is rounds still outpace spot by about 20%

[aucu]

strategy, on Tuesday, November 3rd, 2009, 9:35 PM, said:

is this seriously how you thought up your username on FCP?was this your purpose?

I have no purpose.

[strategy]

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[aucu]

Gold tops US$1110Gold has no purpose?Why would you take this position?http://www.thisismon...ticle_id=493225Gold price smashes through $1,100 barrierPhilip Scott, This is Money9 November 2009, 12:37pmThe gold price has hit yet another new high on the back of a floundering greenback and rising concerns over major central bank policies.The G20 meeting at the weekend reinforced views that US interest rates are unlikely to rise any time soon.The US dollar, which gold is a primary hedge against, hit the skids after figures were published on Friday showing that the US is enduring the highest unemployment numbers since 1983.The dollar index, which tracks the currency's worth against other currencies, slipped 0.9% to a two-week low of 75 today. Recent gains in the gold price have tended to come as the dollar weakens.In 2009, the dollar has already lost more than 7% against its main rivals. The price of gold is now up by some 45% over the past 12 months.Nicholas Brooks, at ETF Securities, said: 'The most recent surge in the gold price appears to be directly linked to statements over the weekend by the G20 that they will keep the fiscal and monetary pumps operating at full speed despite the already unprecedented rise in global high powered money and deterioration of government finances.'Discussions about possibly implementing a Tobin Tax on currency trading to try to reduce financial volatility also appear to have increased investor uncertainty.The most recent move in the gold price builds on the sharp rise last week that was stimulated by the announcement that India will buy 200 metric tons ($7bn) of International Monetary Fund (IMF) gold. Many market participants view this purchase as just the tip of the iceberg, with China, Russia and other central banks also indicating their intention to build up gold holdings as part of their strategy to diversify away from the US dollar.Brooks said: 'This morning's move in the gold price is a clear negative vote on the current trajectory of government monetary and fiscal policies.'Mining shares soared on the news of gold's new high. By 12.30, Kazakhmys was up 5% to 1,272p and Fresnillo was 4% better at 874.5p. Rio Tinto and Xstrata also bounced 4% on the day to 3,028p and 999p respectively.

[strategy]

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[aucu]

strategy, on Monday, November 9th, 2009, 11:18 PM, said:

in the context of all the different places one can put money, gold is similar to a cat.on an unrelated note, my small position in gold has netted almost 40% in just a few months.

I never "put money" in gold but to la large extent it's my life's work and the focus of my business, the last month has been amazing for my share prices, if things hold up reasonably, that being gold not going below $900 that would make for a great cash in the second Q of 2010.Anyone buying at these prices has to be careful.Physical gold I've got only about 10oz including jewelry so it's irrelevant.

[kreppsen]

The one who said gold was a terrible investment, why?I'm not really that much into investments due to my age, but wouldn't gold be ideal to invest in if you're looking for something long term and safe? Let's say you wait until the Au price is low, 800$ w/e. It will go up and down some but from time to time it will probably rise to about 1k?Also, gold doesn't "go broke", like companies can do in hard times. The market will always want gold because, people get married, give eachother presents and engage themselves making a constant demand on the material and giving it a somehow stable price, and this again causing gold to be a more safe investment than putting it all in shares. It will go up and down just like everything else but in the long term even my grandma will be able to sell with profit. It's all about having ice in your stomach and having a personal economy strong enough to hold, even though your investments are on a downswing.

[strategy]

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[aucu]

kreppsen, on Saturday, November 14th, 2009, 7:00 PM, said:

The one who said gold was a terrible investment, why?I'm not really that much into investments due to my age, but wouldn't gold be ideal to invest in if you're looking for something long term and safe? Let's say you wait until the Au price is low, 800$ w/e. It will go up and down some but from time to time it will probably rise to about 1k?Also, gold doesn't "go broke", like companies can do in hard times. The market will always want gold because, people get married, give eachother presents and engage themselves making a constant demand on the material and giving it a somehow stable price, and this again causing gold to be a more safe investment than putting it all in shares. It will go up and down just like everything else but in the long term even my grandma will be able to sell with profit. It's all about having ice in your stomach and having a personal economy strong enough to hold, even though your investments are on a downswing.

Gold can be a good place to put a part of your portfolio but I would only recommend 5-10% of your assets but even though it is still going up you have missed most of the up side and buying now would be high risk. Unless you believe that the US$ is going off a cliff.Today gold hit a new all time high of $1173http://www.financial...html?id=2255945

[mtdesmoines]

aucu, on Monday, November 23rd, 2009, 9:21 AM, said:

Gold can be a good place to put a part of your portfolio but I would only recommend 5-10% of your assets but even though it is still going up you have missed most of the up side and buying now would be high risk. Unless you believe that the US$ is going off a cliff.Today gold hit a new all time high of $1173http://www.financial...html?id=2255945

The dollar ... she ain't gonna be what she used to be. Everyone but the Chinese wants the dollar to be about 28 cents. Believe it or not, although you have much more connection to the industry of gold than I do, because I'm watching the politics of money, I think gold is still a bargain. http://www.businessm...ll-devalue.htmlMore serious, though, is the risk of future substantial dollar depreciation. The US government is printing more dollars that are “worth” less. Why would the US government devalue the dollar? To more easily pay off its $20-trillion public debt in exactly the same way our butcher paid off his debt with smaller chickens.http://www.forbes.co...oapbox_inl.htmlHere it is. Stand back. World currencies should be devalued overnighthttp://www.goldline....on-is-here.htmlI still contend that we are headed for a massive dollar devaluation, regardless of the means--whether it is planned and accomplished by central banks, or by the markets reacting to huge government money printing that force the devaluation....http://www.dailyreck...lar/2009/03/27/In my view, this latest development of the Federal Reserve monetizing debt is inflationary and confirmation that the Federal Reserve wants to debase the U.S. dollarhttp://www.currencyc...lue090404095854Can the IMF force the dollar to devalue?Theoretically this question should be a very easy one to answer. The IMF is the police officer, charged with policing economies around the world. So in theory, yes the IMF can force the United States government to devalue the dollar but since the IMF actually has a large share of the voting rights allocated to the US, then it would effectively mean that the rest of the world practically, would have to gang up on the US, to make this happen.Welcome to New America.

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