Re: Gold status past few days

maksimfa · Mar 2, 2009

two quick things.

1. Was listening to Bloomberg this morning. They had an analyst on talking that Silver is a much better play and value vs gold, and how they expect silver to be up 58% this year, to average at end being $18.50 or so.

Secondly, another excerpt from today's gartman letter. Mr. Gartman is quite frequently on cnbc and others, and is one of the experts in this commodity field.

We are concerned that the bullish
trade has become uncommonly crowded, with
MarketVane’s bullish consensus figures still in the midto-
high-80’s. If stocks are under pressure today, and if
the margin clerks become active once again, they shall
look to gold as a place to raise liquidity. A market that
is over-populated on one side by the public and where
the margin clerks are looking for liquidity is a market
we’d prefer being less involved in, not more. Thus,
we’ll strongly recommend that those who are rather
aggressively long become less so, reducing their
exposure by half this morning. If we are wrong and
hoving to the sidelines, we’ll have time in the next
several weeks to fix that; but we fear… and call it
trader’s intuition or call it what you will… that the public
is way too involved for we to continue to be
comfortable on the same side.
Why this change of attitude? Because of anecdotal
evidence we’ve had sent to us from friends in Dubai
and Mumbai suggesting that demand for gold and gold
jewellery in those two very important trading centres
has fallen off the edge of the proverbial cliff. We’ve
had anecdotal reports of total collapses in jewellery
sales. We’ve had reports of rather sizable sums of gold
on offer, rather than bid. When the Indians and those
in the Gulf stand down, we take note. So too should
our clients around the world:
Click to expand...

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Tater · Mar 3, 2009

Here's a question. I have some gold and I'm in it at $300/oz. I know a guy that wants it at $950/oz do you sell?

I think gold is going down for a while and am trying to contact this guy to make the sell but I want your thoughts, if anything just for fun.

Aslanmia · Mar 3, 2009

Tater said: ↑

Here's a question. I have some gold and I'm in it at $300/oz. I know a guy that wants it at $950/oz do you sell?

I think gold is going down for a while and am trying to contact this guy to make the sell but I want your thoughts, if anything just for fun.
Click to expand...

200% profit and then some? SELL, SELL, SELL!

If it goes down to $500, then you can buy some more!

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Re: Gold status past few days

maksimfa New Member

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Re: Gold status past few days

maksimfa New Member

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Tater Coin Collector

Aslanmia Active Member

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