Next Level: GOLD $1,350.00

Yeah, I'm interested in hearing the causes and who got good deals or got canceled trades. This was a moment of some sort. Maybe a warning of how much in danger our markets still are, especially being so interconnected. The past week has had a lot of tense situations. We definitely saw something historic just happen. I just hope it's not the first rumbling of thunder in the distance with more of the same to come.

 

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Definitely historic. What's unfortunate is that even though the news has talked about Greece's issues, it was never really front page or given that much air time...

To be fair, we've had volcanos, earthquakes, bomb attempts and oil spills that were very news worthy....

What is unfortunate is that I was completely prepared to hear them talk about gold spiking and they did not....at least not the report I saw.....

 

POG was definitely secondary to the talking heads that couldn't respond with commentary fast enough with their eyes watching the crashing charts and thinking that was their big shot at anchor fame. They're saying a lot of trades of a certain amount between a certain time are going to be canceled... gonna be some angry people and relieved people out there tomorrow.

 

I think the worse thing I saw was on Fox today when they asked some guy what is a "good" stock to pick up on during this debacle!! LOL...

That's like telling people you might want to try Burger King instead of McD's because they may not have the mad cow beef so you better hurry now!

 

Lol!

 

Greece crisis: volatile for PM's.

gold high $1,212.60 low $1,156.20
silver high $18.84 low $17.05
platinum high $1,752.00 low $1,619.00
palladium high $571.00 low $481.00

 

see tomorrow another down day for stock market. japanese nikkie index drop 400 points today. or evening in u.s.a. dow future and s & p future both down again tonight. see crisis continue to develop into larger scene. this could affect the whole world. only gold can survive. dow at one point down almost 1000 point. that is around 10%. the gold should have rise 10% too. but gold only rise 2.82%. that is very discouraging. and i am not happy.

 

Elaine, you sure missed a big day in the NY PM markets... Thought we'd see more of you online on a day like this. Check out all the updated posts for the numbers...

BTW, Where did you get your numbers? Your figures for gold low price is incorrect as are those those prices for silver high/low on 5/6/2010 at the US Market close today:

GOLD: $1,209.80/oz - Low $1,174.70/oz. - High $1,212.60/oz.
Silver: $17.69/oz. - Low $17.24/oz. - High $17.77/oz.

Platinum: $1,661/oz. - Low $1629/oz. - High $1683/oz.
Palladium: $509/oz. - Low $496/oz. - High $520/oz.
​

CURRENTLY: in Asian Markets for 5/7/2010...

GOLD: $1,203/oz.
Silver: $17.62/oz.

Platinum: $1,666/oz.
Palladium: $501/oz.
​

 

Many unhappy investors in equities tonight and tomorrow. today was panic selling and irrational selling. Errors in the market and systems. Tomorrow is Friday then weekend. Friday may be much quieter than today. Let's see what US jobs/unemployment report is like tomorrow and what the US Federal Reserve has to say tomorrow. Japan was on Golden Week holiday most of the week, had a very bad week in the markets overall for them.

Elaine is still not happy.:crying:

 

krispy. my figures also include yesterday and few days back.

gold should go as high as $1,300.00 an ounce. and i still not happy about it. i will be happy if gold go up as high as $2,300.00 an ounce. that's the real price of gold.

thanks krispy. my two stocks down 20% & 15% after i sold them few days ago. that's because i listen to your advise dear.

anyway. i see gold will touch $1,250.00 or more if the Greece crisis continue and expanded.

 

$1,250 is an easy price to meet given the current turmoil. Things will be much worse in the world if we see $2300, there may be not real way to know if that's the true POG at that point if it goes hyberbolic in a day or two.

 

if 2010 AGB proof come out today. the price is $1,510.00 each. 2009 first offer is $1,360.00.

what about first spouses gold. proof at $779.00 and unc at $766.00.

 

well. i have to concentrate on stocks this time. wait for timing and enter. it will be far better than gold i hope.

right now. japan nikkie index down 400.06 or 3.74%. hong kong hangseng down 305.62 or 1.52%. china down 1.45% and singapore down 1.33%

u.s. dollar very strong right now.

 

Very wild ride! What stocks to buy...?

 

dow jones rebounded. up 50 so far.

http://www.cnbc.com/id/36989483

 

CURRENTLY: in Asian Markets for 5/7/2010...

GOLD: $1,200.80/oz.
Silver: $17.68/oz.

Platinum: $1,662/oz.
Palladium: $503/oz.
​

 

There was a fear factor on both sides. Many didn't realize that there was a human who hit the "B" key to sell billions of e-minis futures rather than the "M" key for millions. This then pushed up the price of gold. But keep in mind as equities traders learned, things usually come down faster than they go up. Holders of gold and other PM are equally at risk if the fear suddenly relents as equity fundamentals and the finance bill may reduce the volatility.

Most equity holders did not hold insurance on their long positions ( puts or similar options) either because their level at their brokerage did not allow it, or they rather use the money to buy more equities to make more gains. Sounds familiar???Many gold holders have no protection from falling prices either. In this volatility, It would be scary to buy gold or gold funds and not have some short side against them such as puts or bear funds for gold. But many will buy at this level and be sorry when gold pulls back, as it will sooner or later. Just my advice for what is worth

 

http://www.streetinsider.com/Press+...ements+Still+Abound,+Says+Expert/5607821.html

 

CURRENTLY: in UK/EU markets...

GOLD: $1,198.90/oz.
Silver: $17.65/oz.

Platinum: $1,660/oz.
Palladium: $505/oz.​

US markets opening in about 10 minutes...

 

haha yeah major typo!


http://www.typoze.com/blog/2010/05/dow-plunges-billion-sell-order-typo/