Gold Price - Where is it heading?

Bullion Money · 25 April 2011

Logique said:
Hey BM and others, I took the trouble to check the website, very impressive, and the prices look fair.

Upon purchasing the physical, what to do about storage? Bank vault, secure storage specialists etc? Also I've heard supply is tight with some products - the bars in particular?

Hey Mate, Supply is tight in physical silver at the moment.

All silver bar production have been on halt approx 1.5 weeks ago from the Perth Mint. They are not taking any further orders, when they do start taking orders I would think delivery would be approx June/July.

1kg Silver coins are readily available these are very popular since they get shipped to Europe in enormous Quantities. (Europeans don't pay tax on denominated coins)

The 1oz Lunar rabbit coins reached there max mintage at the start of the year
The 1oz Kookaburra reached its mintage approx 1 month ago
The 1oz Koala has an unlimited mintage and is readily available
The 1oz Mouse (2008 Lunar Series) was re-released to make up its max mintage. That is now complete and they are not available either.
All the 10oz and 5oz coins are not available and will not be available until the new lunar series is released in Sept.

The last 3 months has see the worst delivery times from the Perth Mint since I have been in PM stuff. Perth Mint repeatedly say its not the shortage of raw silver rather then the production demand they are having trouble to meet....

Read that any way you want.

Gold products are not a problem.

We keep a decent amount of stock of both Gold and Silver products for immediate delivery. But at this stage we wont ship any Silver bars until Perth Mint decide to take our orders to replenish our existing stock...

Now in regards to storage...

There are many options for storage, you only need to do a quick Google search and you will find a lot of options.

Gold is obviously easier to store/hide. Gold the size of your iPhone would be worth approx $50k. Im sure you can find a safe spot for something of that size?

Silver, again plenty of options - Home safes, bank deposit box, safety vaults, buried in the ground etc etc...

Cheers.

kitehigh · 25 April 2011

Logique said:
Upon purchasing the physical, what to do about storage? Bank vault, secure storage specialists etc? Also I've heard supply is tight with some products - the bars in particular?

What ever you do with the storage of your pm's just remember the best security is knowledge. By that I mean keep the fact that you own pm's to yourself as word can get out and you might find yourself the target of some unsavory people who would love to take your pm's. Just like what happened in this case;

http://www.couriermail.com.au/news/...m-home-in-gatton/story-e6freon6-1226041362365

As the old saying goes "Loose lips, sink ships", another words keep your bloody mouth shut!!

Uncle Festivus · 26 April 2011

NEW YORK (MarketWatch) — Dow Theory Letters’ octogenarian Richard Russell has endorsed the radical gold-bug thesis: The gold market is manipulated. He says it won’t work — but the ride will be rough.

.....................

Russell warns of one possible danger: that “following the end of QE2 [its second round of quantitative easing], the Fed will not immediately jump into QE3. This is feasible, and if it happens, gold could suffer a major correction as the dollar and Treasuries unexpectedly strengthen. “Therefore, BEFORE the great gold tsunami we might have a frightening gold correction that would clean out all the gold skeptics. This ‘clean out’ may be necessary prior to the big gold tsunami, and it’s a reason to hold some cash and not put ALL your money into gold at this time.

Story

The Fed is in a bit of a dilemma, having to decide if QE3 is to be delayed or whether they start to take money out of the system, but it's going to be a lot harder than they think.....if indeed possible without major financial system disruptions?

Charles Plosser and the 50% Contraction in the Fed’s Balance Sheet

Waiting for the dip (1200??), still!

Uncle Festivus · 26 April 2011

Bullion Money said:
Im sure we can sort out an ASF discount, you didn't mention you were form here when you bought?

Next time im sure we can work something out.

Cheers

I'm interested too - please keep us informed if you decide to give a special price for ASF'ers??

Bullion Money · 27 April 2011

Uncle Festivus said:
I'm interested too - please keep us informed if you decide to give a special price for ASF'ers??

Were in the process of setting up coupon codes etc so you can use them to reduce the total price of a purchase.

In the meantime just hit me up on email and say your from ASF and we will see what we can do with a total price etc.

Cheers

nukz · 27 April 2011

NEW YORK (MarketWatch) — Dow Theory Letters’ octogenarian Richard Russell has endorsed the radical gold-bug thesis: The gold market is manipulated. He says it won’t work — but the ride will be rough.

.....................

Russell warns of one possible danger: that “following the end of QE2 [its second round of quantitative easing], the Fed will not immediately jump into QE3. This is feasible, and if it happens, gold could suffer a major correction as the dollar and Treasuries unexpectedly strengthen. “Therefore, BEFORE the great gold tsunami we might have a frightening gold correction that would clean out all the gold skeptics. This ‘clean out’ may be necessary prior to the big gold tsunami, and it’s a reason to hold some cash and not put ALL your money into gold at this time.

But this is assuming the price of gold in USD, if this assumption turns out correct and QE2 ends then the USD strengthens your holding gold priced in AUD. You should probably see that price spike you were looking for like in '09 of 1500 or so whatever it was but this spike i would think could be upwards of 1600-1700 priced in AUD. But this is just a hunch

Regardless of QE decision the AUD is in need of a correction, i still think the USD will have 1 or 2 more rally's before it collapses.

qldfrog · 27 April 2011

Bullion Money said:
Were in the process of setting up coupon codes etc so you can use them to reduce the total price of a purchase.

In the meantime just hit me up on email and say your from ASF and we will see what we can do with a total price etc.

Cheers

also interested and emailled you yesterday, get back in touch with me via email
Cheers

sinner · 28 April 2011

bringing you the good stuff

A different sort of chart

Aussies sure love their gold, but the US seems to be ahead on silver.

sinner · 28 April 2011

Let's do an experiment:

First, we take a monthly cash gold chart in linear scale. Everyone knows this chart:

Now let's take same chart, except as a log scale. So rather the chart increments being equal in nominal size, they are equal in real percentiles:

As you can see, there is a big difference in how the decade long gold bull market can be viewed. To my mind, when looking at the log chart it doesn't really look like anything except gold following a nice clean simple trendline higher.

tothemax6 · 28 April 2011

sinner said:
As you can see, there is a big difference in how the decade long gold bull market can be viewed. To my mind, when looking at the log chart it doesn't really look like anything except gold following a nice clean simple trendline higher.

Nice chart. You should plot some log US money supply figures onto there too, for comparison.

Uncle Festivus · 5 May 2011

Very quiet in here comrades? Do not be alarmed, but be alert.....

The much anticipated shake-out may have begun?

Or the counter trade $USD short frenzy may need to be flushed as well?

Either way, I would envisage a plunge in nearly all markets as 'the recovery' looks to have peaked, from the data I look at. Unless of course the Fed announces QE3.....

Waiting, waiting ......

As for silver, who cares?

Mr Z · 5 May 2011

I care about silver... she makes me sooooooo much more than gold :blover:

Edwood · 6 May 2011

Mr Z said:
I care about silver... she makes me sooooooo much more than gold :blover:

why's that Mr Z, are you short both now, or just silver?

Mr Z · 6 May 2011

Edwood said:
why's that Mr Z, are you short both now, or just silver?

Look at an AUD chart of gold and silver, it should be obvious to you.

Edwood · 6 May 2011

Mr Z said:
Look at an AUD chart of gold and silver, it should be obvious to you.

sorry Mr Z you'll have to spell it out quite clearly and slowly as I am a bit slow - the % move looks quite a lot bigger to me on the USD decline than it does on the AUD decline. Or am I missing something? i.e., you're still long?

Mr Z · 6 May 2011

Well you got the slow bit correct. Think about it a little, I'm off for the weekend, bye

Logique · 7 May 2011

One for the bulls.
Nice straight-talking style from Mr Handwerger and provides a common sense chart at the link.

http://www.kitco.com/ind/Handwerger/may062011.html
Sell Offs In Gold and Silver Are Opportunities To Get On Board The Precious Metals Bull Market
By Jeb Handwerger
May 6 2011
...This is a chart I sent my readers April 22, 2011...
...I believe junior mining stocks (GDXJ) will catch up. Some people are concerned that some of the mining stocks that haven't moved yet should be sold while they're reaching long-term support and basing. I don’t believe so as they all provide leverage to falling currencies and rising demand from emerging economies.

thembi · 9 May 2011

Has anyone had a look at the new Gold ETF that hedges currency exposure? Seems like it might be a simple way to access "pure" Gold pricing.

What do others think?

Bullion Money · 9 May 2011

Logique said:
One for the bulls.
Nice straight-talking style from Mr Handwerger and provides a common sense chart at the link.

http://www.kitco.com/ind/Handwerger/may062011.html
Sell Offs In Gold and Silver Are Opportunities To Get On Board The Precious Metals Bull Market
By Jeb Handwerger
May 6 2011
...This is a chart I sent my readers April 22, 2011...
...I believe junior mining stocks (GDXJ) will catch up. Some people are concerned that some of the mining stocks that haven't moved yet should be sold while they're reaching long-term support and basing. I don’t believe so as they all provide leverage to falling currencies and rising demand from emerging economies.

Thanks for the share..

Sean K · 9 May 2011

sinner said:
Let's do an experiment:

First, we take a monthly cash gold chart in linear scale. Everyone knows this chart:

View attachment 42607

Now let's take same chart, except as a log scale. So rather the chart increments being equal in nominal size, they are equal in real percentiles:

View attachment 42608

As you can see, there is a big difference in how the decade long gold bull market can be viewed. To my mind, when looking at the log chart it doesn't really look like anything except gold following a nice clean simple trendline higher.

Sinner, can you do those in AUD? kennas

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