Gold

[quote author="morekaos" date=1233875017][quote author="awgee" date=1233820467][quote author="upperlowerclass" date=1233816686][quote author="MacInThebox" date=1233808968][quote author="morekaos" date=1233788125]I have been buying TIPS since December for many of the same reasons</blockquote>


What is TIPS?</blockquote>


The fox gaurding the hen house</blockquote>


The fox determines the index.</blockquote>


But the market determines the spread. These things were priced to sell in December. In essence there was no spread reflecting ANY furture inflation. TIPS purchased then are showing a 10% gain in the last month as the spread now widens. I'll take that.</blockquote>


I like these even more now as the inflation hedge. Here it comes. Grab on or get out of the way.





<a href="http://finance.yahoo.com/news/Wholesale-inflation-takes-apf-14410311.html">Wholesale inflation takes biggest jump in 6 months</a>
 
I'm nervous about the same thing, everyone on all the forums are looking for $1k gold as if its a sure bet this week. Guests on mainstream media are even getting on board a little, and it used to be practically nobody. I'm 95% gold miners right now with my fingers crossed, my portfolio tracks increases with gold 2X fairly accurately. Hopefully there are a few more ppl left to join the mania, before a short term pull back.
 
[quote author="upperlowerclass" date=1235092051]



I'm nervous about the same thing, everyone on all the forums are looking for $1k gold as if its a sure bet this week. Guests on mainstream media are even getting on board a little, and it used to be practically nobody. I'm 95% gold miners right now with my fingers crossed, my portfolio tracks increases with gold 2X fairly accurately. Hopefully there are a few more ppl left to join the mania, before a short term pull back.</blockquote>


It's worse than you think. Cramer recommended gold last night on Mad Money.
 
[quote author="upperlowerclass" date=1235103075]I just had McDonalds for lunch. Double cheeseburger is now $1.19, when the F did that happen. Best inflation indicator ever, +19% WTF!!! LONG GOLD NOW</blockquote>


Really? I always thought that gold was the best indicator of future inflation. In fact I went long MCD based on what was happening to gold prices the last couple of weeks...
 
[quote author="WINEX" date=1235103216][quote author="upperlowerclass" date=1235103075]I just had McDonalds for lunch. Double cheeseburger is now $1.19, when the F did that happen. Best inflation indicator ever, +19% WTF!!! LONG GOLD NOW</blockquote>


Really? I always thought that gold was the best indicator of future inflation. In fact I went long MCD based on what was happening to gold prices the last couple of weeks...</blockquote>






Have always thought the same way, we are looking for out of control inflation or at least inflation that is growing at an unexpected or unregulated/unchecked rate. I still have a little bit left in gold, but i'm currently trying to sell the platinum bars now. Hopefully they will go soon.

-bix
 
[quote author="morekaos" date=1235086246]Increased my shorts yesterday and today</blockquote>


Three pair today? or just added Depends?
 
[quote author="freedomCM" date=1235044169]What about platinum?



When people were talking about it last month, I thought no way it would stay so low, comp to gold, so I made a fantasy trade and bought a lot (in my imagination only) at $875. I think it is about $1100 right now.



too bad I lack the balls to do it in RL</blockquote>


I was taught that platinum prices is linked to the auto industry, due to precious metal use in catalytic converters. Although there are new technologies to reduce dependence on platinum in catalytic converters, they still use them and whenever auto sales recover, so will platinum prices.



Personally, I'm not big on platinum due to its limited market. I think it'd be sensible to keep 1-2% of your assets in gold and silver, as the "last resort" to buy you passage on a boat out of the country, or carry with you to hop the border. You might not speak the language, but there will be jewelry stores that would buy your gold/silver with local currency so you can buy food and not starve.



My grandparents from dad's side fled Manchuria on foot, and was saved by gold concealed in their baggage and walking sticks. The less fortunate starved and died in the snow. Even during the chaotic times of war, people still valued and traded gold -- but I wouldn't be so sure about platinum bars.



Gold doesn't make much sense as long-term investment for profit. But it does make sense as "life insurance".
 
[quote author="awgee" date=1235185384]If I was trading precious metals, and I am not, and I do not recommend trading precious metals, I would let go of my remaining long position here. And wait for a good pullback to buy back in.

Since, I am not trading, I will just be content to hold on to my longs.</blockquote>


Whew! Did just that. Dropped the last of the gold and Platinum. Although now I ahve to figure out what am I going to do with this.... just keep it liquid in the puny 1.5% interest?
 
[quote author="biscuitninja" date=1235200855]



Whew! Did just that. Dropped the last of the gold and Platinum. Although now I ahve to figure out what am I going to do with this.... just keep it liquid in the puny 1.5% interest?</blockquote>


Where the hell are you getting 1.5% liquid?
 
[quote author="biscuitninja" date=1235200855]



Whew! Did just that. Dropped the last of the gold and Platinum. Although now I ahve to figure out what am I going to do with this.... just keep it liquid in the puny 1.5% interest?</blockquote>


If your plan is to hold it at 1.5% interest, give it to me, I know exactly what to do with it.
 
[quote author="morekaos" date=1235201099][quote author="biscuitninja" date=1235200855]



Whew! Did just that. Dropped the last of the gold and Platinum. Although now I ahve to figure out what am I going to do with this.... just keep it liquid in the puny 1.5% interest?</blockquote>


Where the hell are you getting 1.5% liquid?</blockquote>


Locked in at wells fargo ... i think its something like 1.25 actually. Last I checked it was 1.5....

-bix
 
Its funny though, I found a silver source and when I order in bulk, I get a few % off the top. When I go to one of my other sources and sell, I get about 3-4% positive. Uhh, this has never happened to me at all.... Is this normal?
 
<a href="http://www.guardian.co.uk/world/video/2009/feb/11/zimbabwe-gold-panning-starvation-food">The Situation in Zimbabwe</a>



I pray it never gets this bad..
 
[quote author="biscuitninja" date=1235564778]Gold BUG! You've been bitten by it. I'm thinking of getting a little bit again. But we will see.

-bix</blockquote>


Bix - I am so far from a gold bug. As asset classes go, precious metals are some of my least favortie to be long. And as an investor whose only priority is to accumulate wealth, I care not one iota what I like or do not like.
 
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