Wt Physica Gold Discussion Threads

[ifthecapfits] 23/2/2012 10:05

No posts since 10.11 - Gold must be out of favour!

[nottud] 07/10/2011 12:11

This has been posted on the POG thread.
Any thoughts and comments on the impact on these ETFs?

The Chinese Mean To Control The Global Gold Market
9/27/2011

Get ready for the Pan Asian Gold Exchange, scheduled to open in June, 2012 in Kunming City, Yunman Province– the gateway to all of Southeast Asia. This is serious, as the Pan Asian Gold Exchange is a part of China's five year plan– which means it is part of China's strategy for dominance in global financial markets and the global economy.

Pan Asian will allow Chinese to speculate in gold futures contracts or buy physical gold through an account with a bank or broker. All 320 million customers of the giant Agricultural Bank of China will. simply be able to use their Renminbi, the Chinese currency, from their bank accounts to trade gold. Sounds bloody dangerous doesn't it.

It means the spot market in gold could be headed for China– and away from London's Metals Exchange or the Comex in New York. I'd like to know who is going to oversee and regulate all this action. For example, when the Comex raises margin requirements to dampen speculative fervor– will China bew governed by that? I doubt it very much.

In June you'll be able to buy spot gold or futures contracts in China. It also means that the Chinese currency- not dollars– will for the first time become the ruling currency used in one of the major speculative commodities of our age. All eyes will be on the influence of the gold trade in China rather than New York, London, Switzerland or South Africa.

Another reason for registering the reality of gold as a trading vehicle, an investment for households, central banks, hedge funds, endowments. Another bullish force behind the powering of gold prices higher.

No wonder George Soros has bought back some or all of the gold position he sold around $1600 an ounce.

[lionheart79] 30/9/2011 13:44

So I just bought some PHAU in my ISA but was quoted what looked like the PHGP price instead. Have you got to have a dollar denominated account in order to get the $ quote?

[via con] 21/9/2011 10:03

Gold forecast to beat $2,000 in next year
By Jack Farchy in Montreal
The gold market is revving up to reach new record highs in excess of $2,000 an ounce in the next year, according to the average forecast of bankers, traders and investors at the gold industry's largest annual gathering.

The bullish prediction, if correct, suggests that the gold bull market remains intact, despite having already gained almost 30 per cent this year and 600 per cent over the past decade.

The widespread optimism at the London Bullion Market Association conference in Montreal, the largest gathering of the gold industry, comes as the gold market has been transformed from a backwater dominated by jewellery demand to one of the hottest investment assets.

The conference, which enjoyed a record attendence in excess of 500, predicted that gold would be trading at $2,019 a troy ounce at the time of next year's meeting in November 2012. That would mark a fresh nominal record for gold, although it is still below the inflation-adjusted peak touched in 1980, which translates to more than $2,400 in today's money.

The delegates at the LBMA conference have a strong record of predicting the trajectory of the gold price, although their forecasts have traditionally been overcautious. Last year, with gold trading at $1,298 an ounce, the conference predicted a price of $1,450. On Tuesday, bullion was trading at $1,805.70, down from a record peak of $1,920 in early September.

The forecasts, if accurate, bode well for hedge fund managers such as John Paulson of Paulson & Co and David Einhorn of Greenlight Capital, who bought gold in the financial crisis as a means of betting that governments and central banks would fail to safeguard their economies from the market turmoil.

Many hedge fund investors believe a sharp appreciation in the gold price is likely as they expect the eurozone debt crisis to deepen.

Despite the optimistic price predictions, traders were wary of growing volatility in the gold market, which has experienced some of the sharpest swings on record in recent weeks. Asked whether the market was in a bubble, 39 per cent of the traditionally bullish audience replied that it was. A growing number expect the market to accelerate in the next year or two and peak above $2,500.

"We expect to see $2,500 some time in the next 12 months," said Som Seif, chief executive of Claymore Investments, a Canadian asset manager.

The most bullish forecast came from Pierre Lassonde, chairman of Franco-Nevada, who predicted that gold would reach parity with the Dow Jones Industrial Average index, at present trading at 11,400, within the next four to six years. "This bull market is far from over," said Mr Las-sonde, whose predictions are optimistic even by the standards of market bulls.

The bullish sentiment has been underpinned by the strength of demand for coins and small bars from retail investors from Germany to China.
.....................................................................
FT 21.9.11

[ccr1958] 23/8/2011 17:40

Thanks spob.

[dysonhooverman] 22/8/2011 06:00

You'll be glad you got into this today I reckon.

Middle East is looking dreadful, markets bad and a big physical order from Chavez.

Wow.

[spob] 19/8/2011 16:36

new high 1876


@ccr it varies roughly in percentage terms minus costs

and currency factors depending on your base currency

[ccr1958] 10/8/2011 14:21

Still rising !! Excuse my ignorance the price of these ie. $174. Is that 10th of an ounce . Also when you comme to sell the price has no relation to the 174 . Cheers C.

[m4ybe] 04/8/2011 06:34

That's what I did a few weeks ago, selling all other shares and commodities. We may have had most of the August gain already, but I'm staying with it, I expect for most of the rest of the year at least.

[ccr1958] 03/8/2011 16:08

I have just got in this today,sold most of my other stocks .I hope i have done right thing. I know price is high but with all the turmoil I cant see markets rallying for a while . Comments welcome ! C.

[spob] 02/8/2011 20:32

go on you beauty


I see this going through 2000 like a hot knife through butter

economic reality is dawning


This will make 1929 look like a sunday school picnic

and the property market will be smashed to peices too

[fatfin] 22/7/2011 09:58

If I could get $4,000 for a pine tree I would be a happy man. Pine pulp is turned into loo paper not banknotes. Banknotes are a mix of cotton and grasses. Stick with the gold.

Fatfin

[bluebelle] 19/7/2011 11:26

"If you don't trust gold, do you trust the logic of taking a pine tree worth $4,000-$5,000, cutting it up, turning it into pulp, putting some ink on it and then calling it one billion dollars"

[spob] 12/7/2011 21:23

new high today

[spob] 25/3/2011 03:07

new high today

[sonicx] 15/3/2011 09:40

strange how gold is falling with all this disaster stuff going on?

[bluebelle] 26/1/2011 09:06

I just don't think it's the sort of financial instrument that drives daily comment. Most people holding gold are doing so for strategic reasons because of concerns about fiat currencies, especailly the USD. Those who are trading it are probably not using this sort of product to do so !

As far as I can see, the reasons I first bought are still valid and are likely to be for some time, especially with more de facto QE around the corner in the US. I think this pull back probably represents one of the best buying opportunities for some time and we shall see the start of a new leg up very soon, if it hasn't already started today!

[m4ybe] 26/1/2011 07:53

That could be a sign people have lost interest therefore this is the bottom (sentiment is usually the inverse of price)... Too early for me to bet on that though.

[4spiel] 25/1/2011 16:46

I could get a quote on Td Waterhouse for PHGP but not PHAU . Is there any reason for this. Maybe there is a simple reaon-as I note no recent posts here!

[m4ybe] 15/10/2010 15:27

Gold is a currency itself (although mostly only Asians understand that), so all you need to worry about is gold to the pound, and ignore what it does to the dollar. It should say about £84 or so today for example in your broker account, but they may be being incorrect by quoting the gain in the wrong currency.
I think you got a good price. This time next year with £1000 gold I think we'll be glad we did.

[jkjenkins] 09/10/2010 18:38

I'm confused!

I bought PHAU on 29/6/10 @ £81.36 a share which I believe was about $122.
The price is now $133 a share - a rise of 9% yet my broker's web site
is only showing a 2.4% change. It would appear that most of my gain has been
eroded by the poor dollar - sterling exchange rate.

Have I picked a poor way of tracking the price of gold or have I just been unlucky with the exchange rates ?

If in the future the exchange rate improves in my favour will the price of gold also tend to fall negating any benefit ?

Thanks,

Jo

[bluebelle] 08/9/2010 19:30

Interesting : I'm in PHAG too.