iShares COMEX Gold Trust (IAU)

All Comments on IAU

  • commenter
    SpaceCadet
    Oct 02 03:18 PM
    Gold Bulls: Beware [view article]
    sakata said: "I am worried about all the GLD shares I have in my IRA. I have no way to get them out and I see no other good choice to switch into. I am too young to withdraw the money but too old to sit out the ten or more years before I see sanity returning."

    I had the same problem. I finally decided that I could not trust my IRA to still be there when I needed it. I figured they will find some way to loot it by then. I cashed it out, in spite of the tax hit and penalty, and bought physical. I am trying to do the same with my wife's IRA, but now the shortage of physical Gold and Silver is making this difficult to do.     Reply
  • commenter
    User 30121
    Oct 02 11:32 AM
    Gold Bulls: Beware [view article]
    GET RID OF THE ETFs, PERIOD! Then get a safe, a gun and start buying PHYSICAL gold and silver. Good luck! Reply
  • commenter
    sieraromero
    Oct 02 10:51 AM
    Even Asset Managers Run For Cover to Gold ETFs [view article]
    Dealers are haveing a very hard time getting silver to sell to customers who want physical possesion. If they get it, it is several dollars above the given spot price. The press should be reporting this, but their masters won't let them! I guess only the rich can get it now at anywhere near the spot price. Reply
  • commenter
    Smarty_Pants
    Oct 02 10:40 AM
    My Website
    Gold Bulls: Beware [view article]
    Trade the 'paper' gold, take intermediate profits when the price is "up", and use the profits to buy physical gold to keep.

    Don't get fancy. Split your 'investment' funds in a manner you think appropriate (50-50 or 60-40 or 70-30, whatever) and put some into GLD or SLV. When prices have a run up, sell off some of the ETF to rebalance the ratio, when they run down buy some ETF to rebalance.

    Over time you will buy low and sell high and increase the total. Every so often, take out half of the 'profits' and use them to buy physical.

    If you're lucky one of the run ups will be massive and you will collect a windfall. If so, you might want to wait to buy the physical until the price comes back down a bit.

    Don't worry about not being perfect in implementation. It won't ever happen. Just try to put yourself in a better spot next month than you are this month. Keep working at it and if possible add more savings to the total so your holdings will grow over time.

    If the dollar every completely collapses you will at least have some paper gold and some physical. That will put you far ahead of most of the country's population.     Reply
  • commenter
    copper1987
    Oct 02 10:36 AM
    Even Asset Managers Run For Cover to Gold ETFs [view article]
    Gold is going to fall to $600 by the end of this year. I have been buying proshares shorts for the last 6 months. Glad I did! Reply
  • commenter
    OilyGasMiner
    Oct 02 09:46 AM
    My Website
    Gold Bulls: Beware [view article]
    I think you are bang on & Gold is definitely the metal of choice during a recession. For a simple reason. IT HOLDS ITS VALUE. Reply
  • commenter
    Ishortyou
    Oct 02 09:45 AM
    Gold Bulls: Beware [view article]
    Wachovia got rid off the prior toxic risky wasted bank subsidiaries and kept the good ones. Now it can start from scratch to build a new banking subsidiary with safe practice together with its remaining good outstanding subsidiaries. The current subsidiaries of Wachovia make it look like “Merrill Lynch without the toxic risky waste”, good job from management it separated the good bank from the bad bank overnight, plus its CEO Bob Steel is one of the top rated mutual fund managers. Wachovia will keep the valuable human resources and the talent that have expirience in the banking business saving them for the new banking subsidiary. Buying the municipal bonds or the auction rate securities will give the inflow of cash as long as its hold even to maturity. Some investors are taking money away from Hedge Funds going wild and putting that money into accounts manage by people that know what they are doing, Bob Steel is one of those people that know what they are doing, dont be surprise some of this money will go to Wachovia subsidiaries. Earnings will be adjusted accordingly, like simple arithmetics they will manage its expenses vs its earnings to come ahead in capital and start piling up cash (saving cash a hard job for most of us that live on debt), this new cash will give them the jump start of a new banking subsidiary without even thinking about to sell its remaining subsidiaries.Forgot to mention that Wachovia owns a hudge Insurance subsidiary which is making money and has sound book of business. Lehman debt is bonds most of them senior, as bankrupt as Lehman is those bonds get paid. ARS are Municipal Bonds as bonds they get paid, hold into maturity they get paid in principal, those ARS are cash flow. Preferred dividends will get paid accordingly because the holding company does not own the banking subsidiaries anymore so modification are going to be made. Getting rid off the toxic waste risky bank related subsidiaries is a good strategy and converting the remaining broker one to a new bank subsidiary with clean sheets is a good one too. Reply
  • commenter
    Cesato
    Oct 02 09:44 AM
    Gold Bulls: Beware [view article]
    I totally agree with the article, paper Gold is good to speculate, if you want to pass something valuable on to you Grandkids buy bullion but again forget about it for another 20 years, don't even look at the price because it may hurt in the medium term. Reply
  • commenter
    bowman711
    Oct 02 09:25 AM
    Even Asset Managers Run For Cover to Gold ETFs [view article]
    Also: Yesturday (Wed.) there was a gap UP by $6-7 in the COMEX spot gold price right at noon, then it was beaten down by the bullion banks. Anybody have any ideas why it gapped UP intraday? Reply
  • commenter
    bowman711
    Oct 02 09:24 AM
    Gold Bulls: Beware [view article]
    Yesturday (Wed.) there was a gap UP by $6-7 in the COMEX spot gold price right at noon, then it was beaten down by the bullion banks. Anybody have any ideas why it gapped UP? Reply
  • commenter
    bowman711
    Oct 02 09:15 AM
    Even Asset Managers Run For Cover to Gold ETFs [view article]
    philly jim - read: Gold Bulls: Beware - seekingalpha.com/artic... - to see why gold is not behaving according to the laws of economics Reply
  • commenter
    Philly Jim
    Oct 02 08:49 AM
    Even Asset Managers Run For Cover to Gold ETFs [view article]
    I'm amazed it's staying under $900 in this environment. Reply
  • commenter
    Post
    American
    World
    Oct 02 08:43 AM
    Gold Bulls: Beware [view article]
    Oh yeah.

    As a foreigner looking at the actions (manipulation is such a loaded word) of the treasury, Fed and Bernanke/Paulson, this image of instability does nothing to make me want to put my money anywhere near American equity markets, or $ denominated assets.

    Uncertainty + arbitrary, sudden, capricious rule changes = ungood.     Reply
  • commenter
    sakata
    Oct 02 08:43 AM
    Gold Bulls: Beware [view article]
    Philly Jim, did you see what happened to silver this summer? Physical silver is selling at anything up to 50% above spot (a check on Ebay yesterday showed 10oz bars selling for an average of over $190). What is to stop the market manipulation of the spot price of gold? The value of your shares in GLD are pretty much tied to the spot price. I have been buying as much physical gold and silver as I can, but I am worried about all the GLD shares I have in my IRA. I have no way to get them out and I see no other good choice to switch into. I am too young to withdraw the money but too old to sit out the ten or more years before I see sanity returning. Reply
  • commenter
    bold4gold
    Oct 02 08:20 AM
    My Website
    Even Asset Managers Run For Cover to Gold ETFs [view article]
    Gold is THE place to be for at least the next 2 t 3 years. Get it while it is still relatively inexpensive! Reply
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