Gold becoming a cellar dweller

I note that the price of gold has been continually falling in the past 5 months yet gold has been in very high demand from India..
With the demise of the gold price a lot of small gold miners will start feelin the pinch..

$1575.00 aussie mmm maybe time to reconcile ones position..

Is CASH king?

Obviously we all need a crystal ball..

I note a few people who keep telling me what they think their gold is worth--I dont have a problem with that I have a concern with individuals saying that its worth a lot more--My simple answer to those characters is to go out there and buy it--real simple and if u dont have the backing then talk is cheap..

My humble opinion would be, to sell your stash and convert it to cash and if u still want gold then buy gold bars from the Perth Mint ..otherwise sell it on flea bay --there seems to be a lot of confused individuals out there buying gold at even highly inflated prices coz its on auction--a lot of it is less than a gram..

So until gold finds its direction in life I feel its downward spiral will continue..

regards
oneday

gold is money in the bank.when your stocks go down the girgler what you lost does not mysteriously reappear. that gold is still there ready for the market. jewellery type gold fetches a far better price than ingot

Gold price is going crappy , gold in recent history allways rises with inflation , maybe with the next US debt chat & they decide to raise the debt ceiling again & print more dollars, inflation will take hold & up she goes , if not & deflation rules , down she goes ..... any smart economist people out there that can see whats coming? albo

albo not a smart economist but in my view it is a race to the bottom with europe, us, japan, china etc all trying to out print each outher to reduce the value of their own currency and give themselves a competive edge on exports.
OZ, Canada, NZ etc have not played the game and have been left behind hence our high dollar and slow killing off of our exports.
but that much debt has been created and that much money printed and continued to print that its past the point of no return and we will see even more inflation soon.
what that will do to the gold price dont know.... at the moment its not keeping up with inflation, but dont forget they are also "printing" gold flat out aswell which when that come home to roost holding actual gold will be a good thing.

With you there kiwi , gold or silver or ......ak47 in the hand will be luxury WHEN the US defaults on its debt sometime soon , makes me larf when they go on about Greece etc with that lot , imagine how lifes going to be when the US defaults on its debt & their currency collapses , which is inevitable , arr i love the bush ,albo.

there doesnt seem too much resistance from gold plunging further..if she goes under 1520 then were will the bottom be?

regards
oneday

It seems that gold is on it's way down - for now. Most of the world has gone through a major asset restructure - also known as Deflation. Deflation is far worse than inflation. When taken to the extreme everything is worth nothing. The USA, Europe, Japan are in so much trouble they actually trying to INFLATE their economies, the results of which aren't real flash so far. BUT - they've at least started the long road back to health and that has been seen by the "big end of town" around the world. The gold price went through the roof when the world thought we were entering Financial Armageddon. Now it's dropping slowly as investors can see that they have started to fix things and it's no longer "out of control". Australia never really needed that stimulus where everybody (except me!) got a few hundred bucks from "the best treasurer in the world" because we were never really in the manure anywhere near as much the USA, Europe and Japan. Australia's problem was a credit problem and not a debt problem as in those countries. I doubt gold will fall back to "500 US" again but I reckon it will continue to fall as the world economy heals itself and finds a new but much lower value for its assets. These include currencies, industrial output, buildings - the whole box 'n dice. I've only ever really thought of my stash as being worth the time honoured "500 US an ounce". So that puts me a long way in front - for now.

Hi Ray, on the long term gold chart seems next major support under 1500 is 1300 , hope not tho , albo.

mate $1520.00--a little bit shaky now--

regards
oneday

welcome caterpillar me old mate--

regards
oneday

What happened to all those economic experts who predicted gold to top $2000 US by the end of this year?
They are real quiet now
The only way this target will be reached is if the gold price stays where it is,and the US dollar crashes bigtime.

On another note.....
It seems there is more money going for small gold these days,with not many interested in big nuggets.
Tragic really,cause its not like you can pull a 30 Ouncer out of your ar*e is it

oneday monday wrote:welcome caterpillar me old mate--

regards
oneday

Nice to be back, Oneday. Hopefully it'll be for a bit longer than last time,,,,,,,,,,,

Cat

CrustyGus wrote:What happened to all those economic experts who predicted gold to top $2000 US by the end of this year?
They are real quiet now
The only way this target will be reached is if the gold price stays where it is,and the US dollar crashes bigtime.

On another note.....
It seems there is more money going for small gold these days,with not many interested in big nuggets.
Tragic really,cause its not like you can pull a 30 Ouncer out of your ar*e is it

"Small gold on Ebay" is either stupid money or drug money - money laundering. It's almost impossible to "move" large amounts of cash these days but small amounts are easily shifted - buy a TV, a new washing machine etc. But try buying a new car with cash straight from your wallet in the dealers yard!!! What better way to launder drug money than "get" a small PL in the Goldfeilds, swap your drug cash in small amounts for gold via eBay, sell the gold to a dealer legally and then no question about how the money came to be in your bank account in huge amounts. So you now swapped "illegal large money" for "small gold" and altered it to become "legal large money". eBay don't care a rats who does business using their platform as long as it's not alchohol, actual drugs etc. The mark up on street drugs is massive % and they can afford to "lose" a bit on the transaction anyway. I'm not into conspiracy theories but there's "gangs" out there that own PLs under all sorts of names and none of 'em know one end of a shovel from the other.

Geez u know all the lurks Cat--mmm enough said

regards
oneday

Caterpillar wrote:
"Small gold on Ebay" is either stupid money or drug money - money laundering. It's almost impossible to "move" large amounts of cash these days but small amounts are easily shifted - buy a TV, a new washing machine etc. But try buying a new car with cash straight from your wallet in the dealers yard!!! What better way to launder drug money than "get" a small PL in the Goldfeilds, swap your drug cash in small amounts for gold via eBay, sell the gold to a dealer legally and then no question about how the money came to be in your bank account in huge amounts. So you now swapped "illegal large money" for "small gold" and altered it to become "legal large money". eBay don't care a rats who does business using their platform as long as it's not alchohol, actual drugs etc. The mark up on street drugs is massive % and they can afford to "lose" a bit on the transaction anyway. I'm not into conspiracy theories but there's "gangs" out there that own PLs under all sorts of names and none of 'em know one end of a shovel from the other.

Lot of truth in that. No one wants cash these days, it's always "got a credit card". What's wrong with cash ? apparently everything, it can't be trusted anymore, coz companies, hotels, motels whatever don't get their cut if ya try to pay with cash. I can't fly to the east coast without a credit card and I can't book into a hotel without one.
Welcome to our world, it's great isn't it.

Know what you mean , avoided the credit card as long as posible , till i got off the plane on the gold coast some years back & couldnt hire a car without one. After fees & overspending its strictly the debit card now.

they all want credit card coz if u pee on the floor of the hotel they will bill u for damage same for car hire if u get a puncture and dont fix it they bill u..the list is endless..

regards
ray
ps: i just wish someone puts money into mine --long shot but thought I'd give it a go..

Personally I think it is crap and it is time we stood up to these infidells . Currently, it means I will never be able to fly to the east or book a hotel room without a credit card. If I give them a credit card number, they make a profit and I have to pay interest so they make their profit.
There is something seriously wrong here.

aussie $ hits a low since june 2012--mmm

regards
oneday

Having watched the price slowly trend down for the last two years, the chart looks even worse these days. The worst of the world's problems are over - but we're still a long way from "real good". Overall, even with me being a "gold bull", I think it's on its way down, hopefully not to far. I may be a seller soon, unless the Aussue Dollar falls even further than it has done in the last cuppla weeks.

In the meantime this is worth a read for another point of view:

http://www.marketwatch.com/story/golds-bull-run-not-over-its-just-taking-a-break-2013-03-01?siteid=nwhwk

Be patient as the website is a bit sticky. It takes a while to fully load.

Cat

http://www.news.com.au/business/worklife/mind-blowing-chart-on-the-richest-americans/story-e6frfm9r-1226589884653#ixzz2MYmnCDhb

interesting vid as attached, we are living in changing times unfortunately i think long term for the worse untill there is a major correction

good link cat the link to currency wars goes makes interesting reading aswell

My son, who follows this stuff as much as I do, sent this to me yesterday. It's drifting off topic a bit but I suppose it's all to do with international economics and hence, the gold price:

https://www.youtube.com/watch?v=QPKKQnijnsM

That's gob smacking!! How one earth can that be sustainable in any country!!

Whoops I just checke yours and it's the same video - but a much faster link.

I do have some time for this guy, Gerard Minack, one of the few that predicted the GFC.

http://www.abc.net.au/news/2013-03-14/bankers-winning-the-battle-losing-the-war/4573260

Now that WOULD put the price of gold up,,,,,,,,,,way up!

C

notice resistance at $1550 and at $1520 so its still in a way would search..if she goes below 1520 then she will dive ----break above the 1570 mark and she might just keep climbing..
nobody has any direction as yet..

regards
oneday