Kelly Lieberman

SPDR GLD ETF Unloads 79 Tons of Gold - Should Investors Follow Suit?

Gold single biggest jump today. Diversify. I hope everyone paid attention....

SPDR GLD ETF Unloads 79 Tons of Gold - Should Investors Follow Suit?

Dave,
This is what I would do if I had limited funds:
Stock up on food, medicine, water, batteries, toiletries etc... Things that I know I will use anyway... but I will be buying at todays prices.
If I had kids I would make sure that I had basic clothes and shoes and outerwear (used is fine) that would get them through the next year.
I would buy at least 2 decent bikes with small trailers that attach.
I would buy seeds, soil and grow lights so I could start a garden in the winter if necessary. Buy a book for directions.
Buy a book on basic survival skills and read it.
Buy some good camping equipment, sleeping bags etc.. in case you need to relocate.
Think about the preparations people made for Ike. Make sure you have easy access to all important records for all family members.

No big deal if nothing goes down. You are prepared for any emergency. Recycle your food and water every 4-6 months and use that camping equipment for fun. Get on the bikes and get healthy... No big deal. If things get rough for awhile, you are a bit ahead of most..
Keep buying a little gold here and there. You don't have to go nuts.

I am not what anyone would call a "survivalist".. but I definately am a survivor.

SPDR GLD ETF Unloads 79 Tons of Gold - Should Investors Follow Suit?

User 30121, You too!

deuxsous, Just a concerned investor. I also invest in domains, and blog a lot about that industry. Right now, I am very relieved that I am involved in an industry that is appreciating faster than any commodity or stock on the planet.
If anyone is interested in learning more about the domain market you can take a look at dnjournal dot com. Within any market cycle there are still ways of making money....

SPDR GLD ETF Unloads 79 Tons of Gold - Should Investors Follow Suit?

Again, it is a matter of perspective. The Gold ETF did not "dump" gold. A buyer or buyers purchased 10 TONS of bullion!!!!

That is not a bearish trend.... that is a bull trend!

My post earlier noted that MSN reported that China is buying Gold...does anybody think that it might have anything to do with the fact that the US economy is tanking and we owe them a huge mountain of money and they are holding a worthless amount of our paper that we keep printing to keep bailing out our failing institutions???

If I was China, I would take those greenbacks and buy every ton of bullion I could get my hands on. Because remember folks, the dollar is backed by the full faith and credit of the US Government! There is no more faith in it, and the only credit we have left is the stuff we keep printing....

SPDR GLD ETF Unloads 79 Tons of Gold - Should Investors Follow Suit?

Who is buying? China. MSN Reports today that:

China: Dumping the dollar

The increasing wealth in China and India, as well as in the Middle East, is supporting the gold price.

The biggest single buyer of gold right now is likely China's central bank. China had amassed $1.8 trillion in official currency reserves by the end of June, much of it in U.S. Treasurys. Though the U.S. dollar has regained some strength lately, the International Monetary Fund, Warren Buffett and others still see the long-term trend as down. That's a big reason China watchers think the country is converting some of its cash into gold.

Map: World's largest gold buyers and sellers

China reported 600 metric tons of gold reserves at the end of June, or 1% of its total cash reserves. At today's prices, that's about $16 billion worth, or about 20 million ounces, less than half a percent of the estimated total gold in existence. Though Beijing is not reporting any addition of gold to its official reserves, some analysts at top trading and investment management firms believe China is quietly buying gold to diversify out of the dollar.

What we do know for sure is that Chinese citizens are increasing their purchases of gold. In 2007, Chinese retail investment in gold rose 63% to 32 metric tons, according to the Shanghai Gold Exchange, as China supplanted the U.S. as the second-largest consumer of gold. Also in 2007, China ended South Africa's 102-year reign as the largest gold producer in the world, taking the top spot as its production rose 8%, according to GFMS, a metals consulting company in the United Kingdom.

Look! A Gold Turnaround! (Not)

and yet....MSN reports:

The biggest single buyer of gold right now is likely China's central bank. China had amassed $1.8 trillion in official currency reserves by the end of June, much of it in U.S. Treasurys. Though the U.S. dollar has regained some strength lately, the International Monetary Fund, Warren Buffett and others still see the long-term trend as down. That's a big reason China watchers think the country is converting some of its cash into gold.

Map: World's largest gold buyers and sellers

China reported 600 metric tons of gold reserves at the end of June, or 1% of its total cash reserves. At today's prices, that's about $16 billion worth, or about 20 million ounces, less than half a percent of the estimated total gold in existence. Though Beijing is not reporting any addition of gold to its official reserves, some analysts at top trading and investment management firms believe China is quietly buying gold to diversify out of the dollar.

What we do know for sure is that Chinese citizens are increasing their purchases of gold. In 2007, Chinese retail investment in gold rose 63% to 32 metric tons, according to the Shanghai Gold Exchange, as China supplanted the U.S. as the second-largest consumer of gold. Also in 2007, China ended South Africa's 102-year reign as the largest gold producer in the world, taking the top spot as its production rose 8%, according to GFMS, a metals consulting company in the United Kingdom.

"Chinese consumption is growing," says Bill Reynolds

Something fishy afoot???