I want gold to go lower so I can mortgage my paid off house and buy more. I will not be selling before 1200. Because that is what the ignorati will be paying to me when they want to get on board the gold train.
Well. not one peep out of the precious metals bashing broker types? Surely gold is going back to $300.00 a la Prechter.
I hope someone can shade light on the reasons behind the IMF gold selling action. I can guess two possible reasons: one is for direct profit from gold dumping, because they (same people who own the Fed, therefore can decide whether to have inflation later on) think there will not have dollar inflation; the second possible reason is to protect the U.S. dollar from further decline. For investors, it is selling time if the former is the case and buying time is later is the case.
WASHINGTON (AFP) - The International Monetary Fund said its executive board on Friday endorsed the sale of 403 tonnes of gold, worth an estimated 13 billion dollars, to boost its lending capacity, particularly to poor countries. http://ca.news.yahoo.com/s/afp/090918/business/finance_economy_imf_gold_poverty That should "shed" some light on it.
GOT GOLD? How long does it take the US to spend 13 Billion these days? Every few hours. The world is debasing currency by 13 billion every few.... seconds? I like Gold's prospects. The monthly chart looks great. Its a great supply and demand story. China wants to own it and is encouraging it's citizens to participate as well. Inflation is on the way.... IMF talking about a new reserve currency. US gubmnt saddling another 10 trillion in additional debt incurred within the next ten years ( using over- generous top line numbers and fictional expense lines). another 50 trillion in off balance sheet unfunded liabilities for that same ten year period. That's conservatively speaking, 60 Trillion in debt. In 2005 over half of all commercial real estate transactions were done with 0% down. This is unfolding. Leases are unwinding. Banks will have to write down loans. Stocks trading at 139 times earnings. Where would I rather have my money?
IMF can't sell any gold without U.S. congress permission. Period. This ain't news, sorry. It can drive price bit lower yeap by chit chatin, ok, just like japans finance ministers and opec members and such, ofc, but, efectively selling it aint that easy, plus, it is within their rules to do so without harming gold prices and blah blah + regards! "⢠The IMF has a systemic responsibility to avoid causing disruptions that would adversely impact gold holders and gold producers, as well as the functioning of the gold market." http://www.imf.org/external/np/exr/faq/goldfaqs.htm
looks like i'm a little bit behind the facts... "US Congress To Approve IMF Gold Sale This Week By Brian Kelly on June 2, 2009 " http://www.dailymarkets.com/contributor/2009/06/01/us-congress-to-approve-imf-gold-sale-this-week/ my apologies... "In order for the IMF to be able to off load the gold, the US Congress would need to approve of the sale, which they did in June of 2009." http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=13604 truth is last COT showed record high net short commercials position in last twelve months... regards!
Damned you and your damned facts to hell!!!! Just kidding - I could not agree more! This fu[king crap is trotted out every time the price of gold goes above some level where the "elite" feel uncomfortable. I don't know how much the price of gold can go up, because it is manipulated almost as much as the price of silver. To whatever dumb fu[k does not believe so....go do a search on gold manipulation. -gastropod