keo

Gold's Devilish Advocate

I agree with tb1975. I live in "euroland", so I look at gold in euro terms. The march 08 high was around 670, and recently gold touched almost 800 euro/oz. Gold made new highs in most currencies, except the usd (and pegs) and the yen... Imho, these two will crack sooner than later, unfortunately...

Sorry Gold Bugs, It's Time to Sell

I agree that gold looks high right now compared to other commodities...
So may be it will dip on the short to medium term. Nothing to worry about in my view... What I do worry about is counterparty risk when buying ETFs or ETNs for commodities (so good for you that you sold your "gold"), and about central bankers printing currencies Zimbabwe style. I don't see many good alternatives to physical gold.

12 Reasons to Short Gold

After reading #12, I question the author's IQ. To believe what the fed and the president say is not really smart (I am being polite).

12 Reasons to Short Gold

After reading #12, I question the author's IQ. To believe what the fed and the president say is not really smart (I am being polite).

It's the End Of the World As We Know It and I Own Gold

Buy consumables. (The best inflation hedge in the times ahead !)
Then, buy bullion. Gold is compact, very, very, very easy to hide, unless you're a billionaire.
Then, if you have something left, buy miners.
If you don't put up any signs like "Food & Gold Here", you will be OK.
This is not the apocalypse.

Is the Commodities Bull Market Over?

strong dollar ? where ?

Is the Price of Gold Artificially Depressed?

Some quotes:

"Gold is money. That's it". J.P. Morgan

"Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan

"Gold still represents the ultimate form of payment in the world. Germany in 1944 could buy materials during the war only with gold. Fiat money in extremis is accepted by nobody. Gold is always accepted." -- Alan Greenspan 1999

"There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into lingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence." - Charles De Gaulle

"There are about three hundred economists in the world who are against gold, and they think that gold is a barbarous relic - and they might be right. Unfortunately, there are three billion inhabitants of the world who believe in gold." - Janos Fekete

I could go on and on....

Seven Reasons To Avoid Gold - And Why You Should Ignore Them

@douglas: all that took was a guy named Volcker who raised rates to 20%. Nou let's see Bernanke do that ;)

The Dow Priced in Ounces of Gold: Secular Bear Market Since '99

In the words of J.P. Morgan, "Gold is money. That's it."
But still, dow in terms of other commodities is interesting.

The Brightest Stars in the Commodities Boom, Part Two

Thanks Mark, enjoyed reading the piece. Some notes though:

- few (no?) commodities have done any good in the period 1980 - 2000, not only gold performed poorly...we could use that period to bash commodities in general.
- In 1971-1980 Pt went from $90 to 1000$, gold from $35 to 850$. Gold did much better.
- In the period 1999-2007, Pt did 318%, Au 190%, Pd 10%. We found a hedge worse than gold ;). But the PM run is not over yet, we'll see what the future has in store for us.

The Brightest Stars in the Commodities Boom, Part I

Most commodities can be substituted. If platinum and palladium become expensive as rhodium, I really expect some substitution. For instance, gold can act as a catalyst as well:

17/05/2007 - Gold glows on back of clean-air movement
www.telegraph.co.uk/mo...

January 02, 2008 -- Will Gold Replace Platinum in Catalytic Converters?
seekingalpha.com/artic...

1 APRIL 2008 - HITACHI MAXELL DEVELOPS NEW GOLD-PLATINUM CATALYST ENABLING HIGHER PERFORMANCE FUEL CELLS
www.greencarcongress.c...

That would definitely destroy some demand for platinum.

If a particular commodity gets too expensive, it gets substituted. If oil is too expensive, we use coal or natural gas. If platinum is too expensive we use palladium. Or maybe gold (as science progresses). I am invested in broad commodity indices, and have a physical stash Au,Ag,Pt,Pd. I don't put everything in gold, and don't put everything in Pd either.

Inflation Fears Are Inflated

The cost of labor flat ? Maybe in the US, but not in the countries where all the stuff the US buy is produced ! Wages are definitely going up in China.

Headwinds for Gold?

I would definitely include "bank problems and potential systemic crisis" in one of the legs, if not as a separate one...

Gold and Silver Are Still Bargains

"That’s right, silver has to increase by a factor of 8 times in order to reach $135.00, which is its 1980 price, when adjusted for inflation"...

I am bullish on gold & silver, but we have to be fair and mention that the Hunt brothers were needed to reach that top in 1980... I am not sure this will happen again soon.

The Death of Gold?

"Gold soars as collapse frightens investors" & "Should I be buying gold and silver?” are not even close. Look for a new "death of equities" headline, combined with your friend TELLING you to buy gold & silver (not asking, but telling), and advising you to buy some hot silver/gold mines which surely can only go up...that would be the top.