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Author Topic: Gold Tops $1080 Today  (Read 3421 times)
Madnsassy
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« on: November 03, 2009, 12:30:33 AM »
Gold is definitely breaching records.  Wonder if this is the big upsurge that has seemed inevitable, or will the cabal be able to drive the price back down once again?  I hear of the possibility of a bidding war for tons of gold between China and India.  Rumor or truth?  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAkoEr3mFLv0
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ninakat
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« Reply #1 on: November 03, 2009, 01:25:43 AM »
Well Madnsassy, it's hard to tell what's going to happen, but Jim Sinclair says the IMF sale to India is "extremely bullish for gold." http://jsmineset.com/2009/11/02/in-the-news-today-358/
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« Reply #2 on: November 03, 2009, 03:09:52 AM »
I have to wonder if the sale to India is related to shoring up our deteriorating position in Pakistan/Afghanistan.
I feel like the Indian sale comes out of left field.
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« Reply #3 on: November 03, 2009, 05:46:26 AM »
Quote
The IMF sale accounts for almost half the 403.3 tons that the Washington-based lender in September agreed to sell as part of a plan to shore up its finances and lend at reduced rates to low-income countries. Asian nations, which have amassed stockpiles of foreign currency reserves since the 1998 financial crisis, have shown increased interest in diversifying out of U.S. assets as the dollar loses value against other currencies.

Well, according to the article, it only took one buyer to buy up almost HALF of the total the IMF had for sale. Hmmm- that should definitely support the death of the dollar concept, as it looks as though India was buying the day after gold set its new record high of $1070 per oz. They didn't even care to wait and buy the dips like the Chinese have been doing they're so ready to drop the USD...
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« Reply #4 on: November 03, 2009, 05:47:33 AM »
If India paid 1045 average and bought 200 metric tons at that price, Anyone wanting to buy a few eagles at these prices ought feel a little more at ease.
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« Reply #5 on: November 03, 2009, 05:53:19 AM »
Quote from: quick on November 03, 2009, 05:47:33 AM
If India paid 1045 average and bought 200 metric tons at that price, Anyone wanting to buy a few eagles at these prices ought feel a little more at ease.

Nah, I'm sure it was just taxpayer money, so who cares?  Cheesy Actually, in the long run, India's tax payers will probably figure out that their government actually got a good deal out of this one...
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JimDiGritz
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« Reply #6 on: November 03, 2009, 05:58:43 AM »
Expect smaller price swings in Gold until the start of December. Then watch the moon launch.
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« Reply #7 on: November 03, 2009, 10:47:40 AM »
Dunno bout December, but there was a mini-moon launch just now.  Shot up $15 to $1075 in the last few minutes.
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JimDiGritz
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« Reply #8 on: November 03, 2009, 10:53:14 AM »
Quote from: petegala on November 03, 2009, 10:47:40 AM
Dunno bout December, but there was a mini-moon launch just now.  Shot up $15 to $1075 in the last few minutes.

Ummm, yeah - is it morally wrong to go back and edit your own reply to make oneself look like a market guru?
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Face the facts. Then act on them.

It's the only mantra I know, the only doctrine I have to offer you, and it's harder than you think, because I swear humans seem hardwired to do anything but. Face the facts. Don't pray, don't wish, don't buy into centuries old dogma and dead rhetoric.
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« Reply #9 on: November 03, 2009, 10:54:48 AM »
Holy shit, look at that!!  Shocked
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« Reply #10 on: November 03, 2009, 10:56:03 AM »
Silver too...almost up to $17.00...what the hell is going on?
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jock
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« Reply #11 on: November 03, 2009, 10:57:16 AM »
Something just happened

Stocks climbing out of the red as well.
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« Reply #12 on: November 03, 2009, 10:59:02 AM »
It's great that gold can now have this kind of rally even without dollar tanking!

So when the dollar actually crashes some day we will go to the moon!
« Last Edit: November 03, 2009, 11:04:15 AM by Ganesh Baba » Logged
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« Reply #13 on: November 03, 2009, 10:59:42 AM »
Gold to new record high $1082.30, dollar pointing back down from earlier morning highs.
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« Reply #14 on: November 03, 2009, 11:03:26 AM »
I like vertical lines, especially when they are pointing up and have the "gold" in the chart.
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