Archive through March 21, 2004

Chart Forum » Forex » GOLD-Anyone for tea? » Archive through March 21, 2004

«« « Previous Next » »»

Author

Message

helloworld

Member

Post Number: 2
Registered: 02-2003

Rating: N/A
Votes: 0


Saturday, February 22, 2003 - 10:28 pm:

And what do you think of the recent evolution of PoG? Was I right to buy some, and is it still a good opportunity? Or is it now too high?

optimist

Member

Post Number: 5
Registered: 12-2002

Rating:
Votes: 1


Saturday, February 22, 2003 - 10:40 pm:

Seems to me an OK move! May have to be prepared to hang in a while if the Iraq situation is resolved. I,m sure there are plenty of economic hiccups yet to come which should make gold look good barring an almost complete collapse of the US dollar versus the A$.As you bought in A$'s you must monitor the A$ POG not the US price .
Aust gold stocks should provide more leverage as the price of gold rises but the bullion eliminates the risks in stock selection.

rederob

Member

Post Number: 6
Registered: 10-2002

Rating: N/A
Votes: 0


Saturday, March 06, 2004 - 10:55 pm:

POG recently eclipsed the 1996 peak of just under $420/oz seen on the first chart of this post.
In reading all the posts between there are some very interesting points.
Most notable is that few of the charted stock are now higher in price than when discussed, despite gold continuing to trend up.
A key reason is that in AUD terms, gold has declined considerably in price - often over AU$600/oz on 2003, but presently at nearer AU$520.
There are many schools of thought on gold, so what you want to believe is up to you.
Foremost, gold is not a commodity in that it does not act as a commodity. Rather, it is a store of value, a hedge against risk, and a potential hard currency.
I hold 5 gold stock and am technically over-exposed (it not being wise to have 20% of portfolio in one narrow sector.
Perhaps foolishly, I believe the US markets will succumb to debt in the next few years, and that we will see the Euro slowly sneak in as the world's reserve currency.
Furthermore, I see too many similarities between the overheated 2000 US equities market and today's markets.
I do not believe that historically high PEs are here to stay and think investors will demand more - but not find it in equities.
Subscribing to create's ealier post quoting Weinstein, ""There is an old saying among technicians -- "the bigger the base, the bigger the move".
Gold has a substantial base and is still early into what is called by many as a secular bull market for gold.
Now that Mr Costello has given me the opportunity to watch my investments for another 40 years I will see if patience can be a virtue.

eblode

Member

Post Number: 39
Registered: 11-2002

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 01:14 pm:

Hi Red,
According to FAT Prohets they feel Gold will hit $US500. by December. Whats your opinion? I'm holding GBG in anticipation of that Merry Christmas.
Eugenio

mosaic1996

Member

Post Number: 642
Registered: 01-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 01:18 pm:

Hi All,
When does the restriction/cap of Central Bank gold sales end?
Cheers,
Mosaic

dirty_red

Member

Post Number: 184
Registered: 05-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 01:22 pm:

Officially toward the end of this year but I believe it is currently being negotiated with a view to a new agreement being in place in next month or two. Restrictions likely to be significantly relaxed.

DR

Dont put your hope in ungodly men, or be a slave to what somebody else believes. If you need somebody you can trust, Trust yourself. - Bob Dylan

mosaic1996

Member

Post Number: 643
Registered: 01-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 01:29 pm:

Hi DR,

End of September from memory. I would look at a chart of gold in Rand to best guage likely direction/impact for gold price in usd$/aud$.

Cheers,
Mosaic

mosaic1996

Member

Post Number: 644
Registered: 01-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 01:37 pm:

Back to the reason behind my original post: I would be skeptical of usd$500 by the end of the year unless the usd$ weakens substantially.

Is recent gold price strength a pump and dump (short) in anticipation of larger Central Bank sales after September 30? I have no idea, but I see it as a possibility.

But gold being gold, I could easily be surprised.

I have not followed gold closely for several [10?] years, so I am a bit out of touch (no idea really) with the fundamentals/supply and demand.

Cheers,
Mosaic

archer

Member

Post Number: 120
Registered: 11-2002

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 01:46 pm:

Hi guys
It was announced last night
March 8 (Bloomberg) -- European central banks will limit their sales of gold to 500 tons annually over the next five years, renewing a five-year old accord that has helped boost gold prices.
Gold yawned at the announcement
Gold has become a currency again as the US dollar
will self destruct within a decade

mosaic1996

Member

Post Number: 645
Registered: 01-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 02:10 pm:

Many gold producers used to sell forward their production. The practice of forward selling has been wound back significantly over the last few years.

What impact would this rundown of forward sales have on Central Bank gold holding, and Central bank income, and on the supply of physical gold sold?

Cheers,
Mosaic

archer

Member

Post Number: 121
Registered: 11-2002

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 02:16 pm:

Funnily enough the poms are not selling any more gold
Their central bank sold hundreds of tons at the very
very bottom of the market and whats
worse is they used the money to purchase foreign
currencies which have depreciated ever since
What a bunch off clowns

scalper

Member

Post Number: 51
Registered: 03-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 02:50 pm:

"Gold Prospects Investor's Day"

Free event, being held in Brisbane, Sydney, Melbourne

MElb. March 28 10am to 4pm

Further details www.australiangoldinvestment.com

Companies presenting: Kinsgate,Red 5, Austindo, Ballarat,Anglogold,Pan-Aus, Goldlink Capital, Croesus, Avoca, Cullen, Gindalbie, Gold Bullion, Independence Grp, Bendigo.

Have no ties with the above, but it is Free, and on a day my markets are closed, and knowing Melb's shitty weather might be a good day out.

Might encourage me further to go to the "Diggers & Dealers Do" later in the year.

Anyone interested in the Melb one, e-mail me if you want to catch up for coffee.

Cheers

Scalper

mosaic1996

Member

Post Number: 646
Registered: 01-2003

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 02:55 pm:

Hi Archer,

Do you have a link to the deal for ongoing Central bank sales?

Cheers,
Mosaic

archer

Member

Post Number: 123
Registered: 11-2002

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 03:01 pm:

Sure Mosaic
Heres two

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=Sto ryFT&cid=1078381599923
http://quote.bloomberg.com/apps/news?pid=71000001&refer=top_world_news&sid=aRVBw _gVWZz0

mosaic1996

Member

Post Number: 648
Registered: 01-2003

Rating: N/A
Votes: 0


Wednesday, March 10, 2004 - 03:19 pm:

Hi Archer,

Thanks for the links.

Apart from the increase 100 tonnes from Central bank sales, the other negative in the back of my mind is the impact on supply of gold is the unwinding of forward sales.

As I haven't followed gold for many years now, I have only really given cursory th