A Place to 'Some' Trash 'Excludes Como'

[decoy409]

This turned out to be a good place for 'THE SAME OLDS' to, as they do, talk TALK. Enjoy Boys and Girls. ;D

This 'EXCLUDES' a few and allows the others to continue on.

[Virgil Showlion]

This article by Bloomberg might shed some light on the matter: www.businessweek.com/news/2011-01-12/gold-imports-by-india-likely-reached-record-wgc-says.html.

Jan. 12 (Bloomberg) -- Gold imports by India, the biggest bullion consumer, likely reached a record last year driven by investment demand, according to the World Gold Council.

Purchases were about 800 metric tons, compared with 557 tons in 2009, Ajay Mitra, managing director for India and the Middle East at the producer-funded group, said today in a phone interview from Dubai.

Imports at that level “would be the highest for India in its history,” he said. The group hasn’t released final data for last year. Purchases in 2010 may exceed 750 tons, Mitra said Nov. 17. The Bombay Bullion Association said Jan. 3 imports probably totaled 700 tons in 2010.

Gold for immediate delivery rallied 30 percent last year to reach a record $1,431.25 an ounce on Dec. 7 as investors bought the metal as a protector of wealth. Demand for bullion as an investment in India surged 73 percent in the year ended Sept. 30, according to World Gold Council data. Purchases by the Asian country this year will remain “strong,” said Mitra.

“Our assessment is demand will continue to be strong,” he said. “Price is no longer a factor.”

Bold by me.

In other news: I should put up a Canadian stock chart. TSX is up to 13,475. My NXY holdings are soaring.

Oh Canada!

[verrip1]

Let's recap gold today, by the rough numbers.

Darn, it goes down $3.

Oops, then it goes down to -$7.

Ahh, much better at -$2.50.

Down she goes, then up she goes, then back down she goes to -$7.50.

Then up she goes to finish at +$3.

So, a little math. $3 divided by $1,385 ....

wow, a slamming 0.22% rise.

YEEE HAAAA!

<Edit to reference opening instead of closing price.>

[decoy409]

I know, ity's hard to understand CURRENY WARS but that is what makes it all the more exciting!

Want bold?

As time advances in a matter of weeks now, you will start to SEE. Heads up and have a great eve!

[verrip1]

Sure, I always look ahead. I'm just commenting on what today meant. Enjoy.

[Virgil Showlion]

stomp /stɒmp/ v. (used with object) - to increase by 0.25%

[decoy409]

Virgil, perhaps a tad more than that. Wait until the fat belly goes to try and slip into those jeans shortly, Now that will be really funny!
Don't know what you tell them but I am sure somebody has been rehearsing in front of their mirror. Now that's FUNNY!

[Tesla_DC-meme]

Wait until the fat belly goes to try and slip into those jeans shortly, Now that will be really funny!
Don't know what you tell them but I am sure somebody has been rehearsing in front of their mirror. Now that's FUNNY!

Could someone please translate this qoute into English?

[Virgil Showlion]

Could someone please translate this qoute into English?

TPTB can't suppress spot gold forever.

[decoy409]

And they won't. Because somebody has to pay the bill for diner shortly. And word has it that the folks are getting mighty frustrated from one end of town to the other,

Quote: Man on knees begs Ken Feinberg for help
www.wwltv.com/news/gulf-oil-spill/Man-On-Knees-Begs-Ken-Feinberg-For-Help-113304209.html?clmob=y

I'm pretty sure at this point that BROKEN PROMISES are not going over to well,

Quote: Gov. Quinn promises to quickly sign Ill. tax hike
news.yahoo.com/s/ap/20110112/ap_on_bi_ge/us_illinois_taxes

66% , well one thing is for sure, the market is up!

[rovo]

Just as I was commenting on the other thread about gold "plunging" I will do so on this thread about gold "stomping".

I use the Bollinger Bands as an indicator of a trading range. Moving above the bands is a break-out and and below the bands is an indicator of trouble. The bands are a mathematical model of most likely price.

For those inclined to research .... en.wikipedia.org/wiki/Bollinger_Bands

Anyway, referencing GLD the upper band is at ~$138.15 and the lower band is at ~$132.50. Today's closing price was $135.46 and this is roughly the midpoint of the bands. This is about as neutral as it can get in predicting future moves. Until GLD reaches and exceeds the 52 week high of $139.54 there is, in my opinion, a greater chance of a decline than of an upward surge.

I have no position in gold.

[decoy409]

Rovo, you keep on those Bollinger Bands. And save this and clue me in say 90 days or less from now.

[rovo]

No problem Decoy. I've been watching gold very carefully of late for an opportunity to make a play. I'll alert you if I see anything unusual happening, good or bad.

Gold is a tough cookie to predict because it is a world wide commodity with an intrinsic value and a "fear" value. The fear value is the major element in the current price and "fear" can increase or decrease rapidly based upon world events.

[verrip1]

Of course that presumes that a full-time, modest level of gold ownership is not reasonable, and that gold should only be bought for purposes of temporary upward gain, followed by selling out the whole position after reaching one's price goal.

[verrip1]

The rally continues.

It's down.

Now it's UPPP.

Now it's down again.

Upping again.

We're coming down the stretch ........

[verrip1]

Ut oh.

[verrip1]

It's ending near 1374.

Let's see the gains for the day. Open 1385 ... got the approx close ... subtract ... carry the 1 ... multiply by a hunnert ... divide ...

And the answer IS:




Oh. Why don't we just say that today's gains were modest. ;D

[Deleted]

Verrip

Sounds like the NEW math they are teaching nowadays

I am an accountant and the crap confuses me...lol

[verrip1]

Ut oh again. Jan 14 is not looking like any stomping will be going on today. It's a "d'oh!" day for gold so far. Chart right now is a falling knife.

This could be grim, unless you're a short. Say, didn't someone on MT talk about gold shorts? Sounds like it could chafe a lot.

More to come.

[verrip1]

Somebody got stomped today.

The names have been changed to protect the victims.

[comokate]

Jan 12, 2011 15:51:22 GMT -5 Virgil Showlion said:

This article by Bloomberg might shed some light on the matter: www.businessweek.com/news/2011-01-12/gold-imports-by-india-likely-reached-record-wgc-says.html.

Jan. 12 (Bloomberg) -- Gold imports by India, the biggest bullion consumer, likely reached a record last year driven by investment demand, according to the World Gold Council.

Purchases were about 800 metric tons, compared with 557 tons in 2009, Ajay Mitra, managing director for India and the Middle East at the producer-funded group, said today in a phone interview from Dubai.

Imports at that level “would be the highest for India in its history,” he said. The group hasn’t released final data for last year. Purchases in 2010 may exceed 750 tons, Mitra said Nov. 17. The Bombay Bullion Association said Jan. 3 imports probably totaled 700 tons in 2010.

Gold for immediate delivery rallied 30 percent last year to reach a record $1,431.25 an ounce on Dec. 7 as investors bought the metal as a protector of wealth. Demand for bullion as an investment in India surged 73 percent in the year ended Sept. 30, according to World Gold Council data. Purchases by the Asian country this year will remain “strong,” said Mitra.

“Our assessment is demand will continue to be strong,” he said. “Price is no longer a factor.”

Bold by me.
]

I strongly believe the demand will continue as long as economic growth continues in India and China. Gold has been a coveted sign of wealth, a symbol of belonging in the upper classes, for *thousands* of years in both countries. That's pretty much true for all Asian nations. It's common for women to "wear the family wealth" in the form of jewelry, and for those who can't afford gold, silver jewelry is worn.LOTS of it. We have the nation's biggest Hmong community here and at festivals the women are covered in silver. It's a huge status thing. It's a cultural tradition that isn't going to go away anymore than their cultures , which have been around for thousands of years, will. Nothing shows the world you "have arrived" more than an armful of gold or silver bangles. India and Asia have each passed the one billion people mark...gold is a finite resource....I truly believe the demand will continue to rise.
blocked due to malware/_iqp2h_ZOCac/S-XOCtP3kKI/AAAAAAAAFgk/5v2XDA08los/s400/Indian_gold2.jpg[/img]
<---how many ounces do you think she is wearing?

[kman]

They also still have arranged marriages. ..but who's complaining.

[Tesla_DC-meme]

All intellingent people will agree that;

• Western countries (USA and to a lesser degree Canada) hold the future of global style and cultural ideals.
  
• With the rare exception of Rap stars and otherwise tacky folks, Gold is best doned in modest quantities in sophisticated consumer circles.
  
• The trend toward stealth wealth is bound to reach the logical ultimate level of complete forbearence. ie: Zero Gold.
  

Gold is quite doomed to fall from grace and fashion.

[verrip1]

SELL, SELL, SELL!!!!!!!!!

[comokate]

Jan 15, 2011 16:00:59 GMT -5 Tesla_DC-meme said:

All intellingent people will agree that;

• Western countries (USA and to a lesser degree Canada) hold the future of global style and cultural ideals.
  
• With the rare exception of Rap stars and otherwise tacky folks, Gold is best doned in modest quantities in sophisticated consumer circles.
  
• The trend toward stealth wealth is bound to reach the logical ultimate level of complete forbearence. ie: Zero Gold.
  

Gold is quite doomed to fall from grace and fashion.

"All intellingent people will agree that;"

That itself is an incorrect statement since;
* I* have consistently tested in the top 4% for intelligence ( btw, you misspelled intelligent, donned and forbearance; a bit ironic) and *I* strongly disagree with all of your ethnocentric statements.
It may be a crashing surprise to you that there are other, older cultures in existence around the world that have no intention of adopting the "Western Ideal". There may be moments of cultural immersion or an influence in fleeting fashions, but the core ideals of a civilization that has existed for thousands of years isn't going to fall away due to the mercantile efforts of wayward nations that cannot even maintain their own cultural "ideals".
Gold will never cease to exist as a coveted symbol of wealth.

[comokate]

Jan 15, 2011 19:14:07 GMT -5 @wxyz said:

ok. Neither will tulips, or shells, or beads, or etc, or etc. Never say never.

Tulips, beads ( non-precious) and shells are all organic materials. All can be reproduced. You won't find any of them on the Periodic Table of Elements. Gold is inorganic, one of the elements , finite on earth, it is a rare metal and cannot be reproduced. Coveted by at least two billion people having a cultural history of viewing it as a symbol of wealth for thousands of years. Gold will never cease to be a symbol of wealth and status.

[comokate]

They also still have arranged marriages. ..but who's complaining.

A fact that has nothing to do with the value of gold. Another fact is their "arranged" marriages have a much better success rate than those in the West; and with one billion people those arranged marriages have been pretty fruitful.

[verrip1]

Oh. In that event:

BUY, BUY, BUY!!!!!!!!

[comokate]

Jan 15, 2011 21:19:02 GMT -5 verrip1 said:

Oh. In that event:

BUY, BUY, BUY!!!!!!!!

Actually I am buying silver at the moment. The "poor man's gold", it is currently selling under value.

[verrip1]

I'm still accumulating palladium. The "other" white meat err, metal.

Don't get me wrong, silver made me a lot of money a couple of years ago, and might do so again. I'm only holding Ag at 2% of portfolio today. Palladium at a bit above 5%. Volatile stuff, that, for a guy in the distribution phase of portfolio management. I'm also trying out that new WITE ETF for a few shekels. Kind of a test drive.

I'm holding on oil above $100 (but ready to sell at the drop of a hat) and accumulating ag commodities and some more copper. It's good to be in a more healthy commodities market again.

Whatsomeever, back to gold. Ooooh, it's so shiny!!!!!

Yeeee haaaa!!!!!!!!