Current Gold Levels ?

[exbryan]

There is a chance for the price to rebound and start a trend reversal.

 

[Michael00007]

I place a financial curse on all the pricks selling Gold and Silver !

 

[Pharaoh]

Here's a scary and little know detail about the banking industry.

Banks make loans based on leverage. For example, if you put $1000 in your savings account, you would think that the bank shouldn't be able to loan out more than $1000 based on this. Instead, the bank can loan out "your" $1000 many times over. In some cases, the leverage can exceed 100:1.

And to think that the NFA and CFTC locked US traders down to 50:1 on forex accounts, which are known to be risky. Yet your very safe savings account can be manipulated to levels far above and beyond this.

Add in what Cyprus did to account holders with the blessing of banks around Europe, and it's obvious that no normal bank is a truly safe place to put all your money.

Mattress Bank - The only bank you can really trust. Protecting your assets since 1929.

 

[Red Herring]

Cant agree that only
Mattress Bank - The only bank you can really trust. Protecting your assets since 1929!!!

 

[FringFX]

Hmmm....it was not a boring reading at all Pharaoh!

From the discussion I remember what will happen if all the deposit holders of a bank want to have the hard cash! The deposits are not backed by hard cash, its true! Similarly I believe that every contract is not backed by physical gold!

the worst part is not all physical gold is 100% gold! some are merely gold-PLATED!

 

[FringFX]

I am also not understanding this gold market and the bank manipulation is huge. It was well down below 1350 and it matter of 2 hours it hit the 1400 level. How can a small trader survive this manipulation.

Surprise! nearly 1 month has past and gold is still below the $1,400 level.
2 months, nearly, have past and we are still below $1,400

The way to survive, seriously, is to NOT trade it or any instrument for that matter. All are manipulated.

 

[Pharaoh]

the worst part is not all physical gold is 100% gold! some are merely gold-PLATED!

Normal plating is detectible. Gold encasing (very very thick plating) of tungsten is very very hard to detect.

This is one reason that I buy multiple units of smaller sizes instead of larger bars. It's sort of hard to slip a tungsten slug into a 10 gram gold disk or bar.

 

[Pharaoh]

This elevator is going DOWN.
Goodbye 1380.
Goodbye 1370.
Goodbye 1360.
Goodbye 1350.
Goodbye 1340.
Goodbye 1330.
Goodbye 1320.
Goodbye 1310.
Goodbye 1300.
Goodbye 1290.
Goodbye 1280.
Now arriving on floor 1270. The last time price was here was in September 2010.

I think it may be time to add some more gold to my collection.

 

[FringFX]

Normal plating is detectible. Gold encasing (very very thick plating) of tungsten is very very hard to detect.

This is one reason that I buy multiple units of smaller sizes instead of larger bars. It's sort of hard to slip a tungsten slug into a 10 gram gold disk or bar.

Buying smaller ones would seem very sensible. Those who get away with this scheme is almost always a few steps ahead!

 

[FringFX]

This elevator is going DOWN.
Goodbye 1380.
Goodbye 1370.
Goodbye 1360.
Goodbye 1350.
Goodbye 1340.
Goodbye 1330.
Goodbye 1320.
Goodbye 1310.
Goodbye 1300.
Goodbye 1290.
Goodbye 1280.
Now arriving on floor 1270. The last time price was here was in September 2010.

I think it may be time to add some more gold to my collection.

Probably not just yet. How about $1100 - $1200? Don't you just love discount prices?