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  • Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks - Follow-Up On CEF, GTU, GDX, NUGT [View instapost]
    Thanks Monty, appreciate your taking the time to respond with additional input. Actually it does add to my understanding of the nature of these vehicles and how they behave for medium and longer term holdings.

    Looking carefully at the CEF/GTU/GLD chart, I think I would come to a slightly different conclusion to you - it looks to me that GTU is perhaps a little better on average than GLD, even after 2010, especially most recently. I guess CEF's volatility is due to the silver content with higher highs and lower lows.

    Your comments about NUGT have clarified somewhat my understanding of how it works. I have been tempted to use it in the past, but reading your blog I am glad I didn't and will probably stay away from it.

    Thanks again for this extra material !
    Best wishes.
    Nov 7 06:36 AM | Likes Like |Link to Comment
  • Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks - Which Is The Best Investment? [View article]
    Thanks Monty, will check out the instablog.
    Nov 7 06:16 AM | Likes Like |Link to Comment
  • Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks - Which Is The Best Investment? [View article]
    I was expecting an article about junior miners, but your link takes me to a Bank of America checking account page.
    Nov 6 07:06 PM | Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    "Bernake's money printing or the massive debt are somehow going to cause the U.S. dollar to collapse (thereby driving up gold), well, that is just pure hokum. "

    Actually it's not pure hokum, (a few short years ago massive QE would have been dismissed as pure hokum too, as would a possible euro break up, or sovereign bailouts, but now look where we are).
    Nevertheless, dollar collapse has not been mentioned in this thread, and is not needed for the gold thesis - just a continuation of the present currency debasement, slow or fast, and that's already been happening for years.

    "The smart money doesn't believe that tabloid rubbish and neither should we."

    The smart money is piling into PM on the dips, whatever it believes about dollar collapse prospects. Gold is not just for doomers looking for a collapse scenario, but for the very real and exact fundamentals of our ongoing economic environment today.

    "The facts are that the U.S is in far better shape than most economies of the world and cheap oil and gas is going keep the U.S. at the fore front of the inevitable resurgence of economic growth.
    Count on it. "

    OK you're just making me laugh now. The US may have a flexible and resilient economy, but it is also drowning in debt, and has a deficit which adds more every day (in fact right now there is not even a budget in place since it wasn't signed), and the US is far from resurgent. We are in unchartered waters, yet you show remarkable faith in failing policies and fake government statistics.
    Nov 6 06:51 PM | 3 Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    Your response here makes it obvious that you are still totally missing the crucial point. The dollar rises and falls against other currencies, we don't need to be to be forex traders to realise, and no one is disputing that point.

    The fact is it makes not one iota of difference to the gold thesis, just as it hasn't for the last 10 years, but if you still think it does then good health to you my friend.

    I'll leave you with one final hint - the USD is not the only currency being debased.
    Nov 6 06:36 PM | Likes Like |Link to Comment
  • Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks - Which Is The Best Investment? [View article]
    Good point, GDX and GDXJ, plus the leveraged ETFs (both metal and miners), would have made excellent material to be included in this comparison.

    He seemed to compare mining-only closed end funds with metal-only ETFs. Would have made more sense to have stuck either to all mining based vehicles, or all metal based investments.

    Maybe Mr Spivak would be willing to do an update which includes all these missing options?
    Nov 6 12:23 PM | Likes Like |Link to Comment
  • Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks - Which Is The Best Investment? [View article]
    In Closed End Funds you looked at those holding miners. There are two which hold metal (CEF and GTU which hold a mix of gold and silver; and gold respectively) - it would have been especially useful (well, to me at least :-) to see how these compare to both the miner funds, and also the metal ETFs in the first section.

    I think there are a number of SA readers who are particularly interested in these two funds as they are considered safer and more transparently backed by real metal than the ETFs, while still benefiting from the advantage of instant tradability on a US exchange.
    Nov 6 08:02 AM | 2 Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    You are still misusing the DXY USD index. All that measures is the USD against a basket of other currencies, which are also being devalued and moving around at different rates. It is meaningless to compare that index to the gold price.

    Mbcy and I already explained that to you only a day or so ago, when you did it under a previous article, which you ignored.
    Nov 6 06:08 AM | 2 Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    "Interesting outpouring of emotion."
    Interesting use of language. What you call emotion, others call logic / facts / reality / economics.

    In response to your King World News reference:

    1. Whatever conclusions are quoted on that website, I am certain they were not arrived at by the same kind of flawed logic and guesswork which you showcase in your article.

    2. As even a brief perusal of that website will reveal, it is totally, utterly and diametrically opposed to your underlying outlook and thinking on gold and the economics of debt, as written in your article. To make such a reference on your part is disingenuous.
    Nov 6 05:25 AM | Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    I think this is one of the worst articles I've ever read, not just on SA.
    It is simply guesswork based on bad logic.
    Nov 5 10:08 AM | 2 Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    "So far, although there is much pain in Europe, no country has financially collapsed. Greece has come close but was rescued, and strangely enough, it was rescued by issuing more debt. "

    Of course they have - that's why they had to be bailed out. Have you been to Greece recently? Nothing has been rescued by issuing more debt, the problem has just been prolonged and made worse. Like raising the stakes in a poker game in which you have the loosing hand - except there is no chance your opponent will fold. You can loose now or you can extend the game a bit longer and loose bigger later on.

    In this context, the problems in Greece or other indebted nations are simply made bigger by making other countries responsible for underwriting them, extending the pain to hundreds of millions of taxpayers who aren't Greek, and encouraging debtor nations to continue spending.

    The EU does not have enough net contributors to bail out all the debtor nations who will need help - therefore no problem has been solved, just extended to an ever widening circle of tax payers who are not themselves responsible for the mess (except for voting to be in the EU). The mother of all moral hazard scenarios.
    Nov 5 09:46 AM | 6 Likes Like |Link to Comment
  • Will Gold Reach $2,500 - Buyer Beware [View article]
    "...as time passes, the inevitable is often changed by the Unexpected Event. The continued passage of time makes the inevitable less inevitable."

    I'm afraid the logic of this thinking escapes me.
    Nov 5 09:37 AM | Likes Like |Link to Comment
  • Why Gold Should See Another Bull Run In The Next 6 Months [View article]
    Excellent, I imagine these coins are very popular in China :-)
    Nov 5 07:25 AM | 1 Like Like |Link to Comment
  • Why Gold Should See Another Bull Run In The Next 6 Months [View article]
    "If you aim to have more paper (EUR, GBP and etc) I agree - you have to buy dollars."

    mbcy, in fact I would go even further and add to what you have said:

    If you aim to have more paper, you are probably still better off buying gold - because soon you will likely be able to exchange it for even more paper than if you had bought the paper to start with :-)
    Nov 5 06:29 AM | Likes Like |Link to Comment
  • Why Gold Should See Another Bull Run In The Next 6 Months [View article]
    “Since one year ago, we see that the U.S dollar index (DXY) has gone up 7.3% (despite QE's 1, 2, and 3 !)”

    This way of measuring currencies is totally misleading, because you are using a moving yardstick. DXY measures against a basket of other currencies which are also moving all over the place at the same time, therefore this only tells you how fast the dollar is loosing value compared to others. It does not mean the USD is going up in value when you see a positive number.
    Nov 5 05:32 AM | 1 Like Like |Link to Comment
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