Gold to do what ???? on Monday AM

7over8 · July 12, 2008 8:06AM

The sliding DOW, saved by Bernanke's comments, which were later recanted, promising funding to two Govie agencies in trouble, FANNIE and FREDDIE

IndyMac seized by FDIC after hours Friday.

The FED must be cooking something up this weekend to avoid a sh&t show Monday morning.

What is in store for Monday AM - especially with GOLD to keep this on the COIN/BULLION related discussion!!!!

coinsarefun · July 12, 2008 8:13AM

I think that this is just the beginning of what I will call Bernanke's Revenge
but, what do I know?

Stefanie

tincup · July 12, 2008 8:30AM

It should be interesting come Monday.

The Fed and the government will definitely be cooking something up.... that is why the bank take over waited until after hours on Friday. That gives them the weekend to get whatever lined up.

There will probably be some shakiness in the financials...... and no doubt in my mind that there will be some jumping ship and pulling (or trying to pull) their money out. Will see if the Fed has to intervene in some manner....

I suspect the Fed will do something to try to drive the price of gold down at the same time..... but doubt they will be very successful. Just my guess......

TwoSides2aCoin · July 12, 2008 8:36AM

One constant about gold that'll never change : the melting point

TwoSides2aCoin · July 12, 2008 8:38AM

(1064.18 °C, 1947.52 °F)

I suspect the prices will fluctuate between these two numbers soon enough

08HALA20 · July 12, 2008 8:43AM

<< (1064.18 °C, 1947.52 °F)

I suspect the prices will fluctuate between these two numbers soon enough >>

Rookie Joe

I hope there isn't a big jump til after the Buff Fracs go on sale-they are high enough already.

Joe

DoubleEagle59 · July 12, 2008 9:22AM

Although I believe Gold has a long bull run ahead of itself, I don't think the price will move too much on Monday and in the very near future.

There's just too much money being lost in other sectors and too much money invested in Oil at the moment, for any 'new' money to be put into Gold/Silver.

It'll take some time but eventually Gold will see $1200 and higher.

GAT · July 12, 2008 9:31AM

You will get a good indication of the direction of the market when the Asian markets open on Sunday at around 5 p.m. PDT.

rgCoinGuy · July 12, 2008 9:32AM

I predict gold will maintain its lustrous shine on monday morning.

Bochiman · July 12, 2008 9:34AM

Today, local dealer called for gold hitting $1000 on Tuesday. We shall see if he is right.

GFourDriver · July 12, 2008 9:35AM

I would look for gold to start strong on Monday morning followed by some profit taking....... gold down for the day by $8.60.

edited for spelling

RedTiger · July 12, 2008 1:35PM

For the average person, keep doing what you have been doing, which is hopefully scaling in, building a long term position with small incremental buys. Do the same when getting out.

Why all the excitement? Gold is still below its price when Bear Stearns went under in March. As someone else put it, wake me when gold makes a new high.

These swing are generally only profitable for traders, and only the good traders. If there are traders reading coin boards for advice and taking that advice, a good percentage of them will be broke soon enough. Again, asking Internet forums for financial advice is generally a fool's game. There are some nuggets of information, but the noise ratio is extremely high. The novice tends to mistake noise for information, and tends to lose money because of it.

percyb · July 12, 2008 1:42PM

<< I would look for gold to start strong on Monday morning followed by some profit taking....... gold down for the day by $8.60.

edited for spelling >>

I need gold, silver, and oil down by Friday so that my long positions don't get called away by options that I wrote...Everything went in the money on Friday. What a run we've had the past week or so!

jmski52 · July 12, 2008 1:58PM

For the average person, keep doing what you have been doing, which is hopefully scaling in, building a long term position with small incremental buys. Do the same when getting out.

RedTiger's right, you know.

derryb · July 12, 2008 2:04PM

The inflating international scene is now a major factor. US government control of the metals markets will very soon be a thing of the past. Look for metals to continue a slow climb with a very sudden break out not far away. Silver will lead gold this time around.

oreville · July 12, 2008 2:06PM

<< For the average person, keep doing what you have been doing, which is hopefully scaling in, building a long term position with small incremental buys. Do the same when getting out. >>

Indeed, RedTiger has made a very sound suggestion.

It follows the sound advice of collecting coins. Consistency and thinking long term.

MikeInFL · July 12, 2008 2:07PM

Remember what happened the last time we had bad financial news late Friday. The markets did exactly the opposite of all the doom and gloom on this forum.

I'm just sayin'

FishyOne · July 12, 2008 2:25PM

"It'll take some time but eventually Gold will see $1200 and higher."

I believe gold will hit $1200 before the end of 2008.

notwilight · July 12, 2008 2:45PM

I just bought some gold buffalos tonight from a guy who is moving out of bullion into contracts. --Jerry

notwilight · July 12, 2008 2:46PM

<< I would look for gold to start strong on Monday morning followed by some profit taking....... gold down for the day by $8.60. edited for spelling >>

And I'd like for gas to go down.

COALPORTER · July 12, 2008 2:48PM

I bought some gold today, so it will probably go up 1 dollar on monday and then down 20% by friday.

cladking · July 12, 2008 3:27PM

<< One constant about gold that'll never change : the melting point

>>

...ever hear of white powder of gold?

Nothing lasts except the pyramids.

cladking · July 12, 2008 3:30PM

Normally I have a pretty good gut feel for this.

This time I do not. An explosive move in either direction and then moving back toward unchanged wouldn't surprise me. I'm figuring down.

BlindedByEgo · July 12, 2008 4:39PM

May go up. Or down. Very possibly, sideways.

lava · July 12, 2008 4:45PM

Market timing in general is tough, but now you are asking for both a particular day AND a time of day. If you are that concerned about timing, I'd say you are overexposed. Scale back so you can sleep at night.

roadrunner · July 13, 2008 2:55AM

The FED/PPT has 2 choices for the Asian and US opens on Monday.
Either they can try a frontal attack and pummel gold right off the bat like they did right before the BSC announcement OR they can let gold run up a bit during the week and then try to bag it as it gets to the $980-$990 range.

I'm voting for the wait a few days, let the longs get in some of their profits (ie JPM and Goldman Sachs) and then hammer it before $1000, thereby creating some anxiety in a "failure" to make $1000. The pull back won't be long however. A new high for gold is coming this year with $1100-$1200 well in sight. The stock market could well make a recovery to 12000+, but gold is going with it. Goldman has been reducing their short position as of late so no secret they are playing the bull side right now.

For those still waiting for the $750-$800 pog gravy train, it had long left the station back in 2007. The low for the rest of 2008 probably will be no less than the $920-$940 range. $950 could well be the best buying price we'll ever see going forward.

roadrunner

7over8 · July 13, 2008 3:00AM

roadrunner

I think the PPT is too busy mulling over "what to do" with a large bank failure (IndyMac) and Freddie and Fannie problems after the 180 degree turn by Helicopter Ben on the ability to grant Freddie and Fannie the right to go to the TAF window..........

I think they will let gold run it's course for the next few days.

I do think the DOW is headed south fast, 9000 is the bottom is my book.......many traders are not building any positions and are "selling" on ANY strength.......not begging individuals to "BUY" on weakness as they normally do - or recommending to "dollar cost average" thier basis DOWN........

Thier normal advice......is interpreted as.......follow the rest of the herd off the cliff!!!!

notwilight · July 13, 2008 3:03AM

<< Market timing in general is tough, but now you are asking for both a particular day AND a time of day. If you are that concerned about timing, I'd say you are overexposed. Scale back so you can sleep at night. >>

Maybe the concern is that he is underexposed. That fear drives prices higher on these runs. --Jerry

notwilight · July 13, 2008 3:06AM

<< ......... I think they will let gold run it's course for the next few days. I do think the DOW is headed south fast, 9000 is the bottom is my book.......many traders are not building any positions and are "selling" on ANY strength.......not begging individuals to "BUY" on weakness as they normally do - or recommending to "dollar cost average" thier basis DOWN........ Thier normal advice......is interpreted as.......follow the rest of the herd off the cliff!!!! >>

I've had two gold buyers this weekend tell me they were very bulish on gold because "their broker" says that the big guys are getting out of the stock market and "there is nowhere else to put their money." Interpret that how you will but it didn't come from the shoe shine boy.

--Jerry

7over8 · July 13, 2008 3:10AM

agreed.

What we have to watch out for is when that eventually does happen, when the herd arrives and starts buying like gluttons, and the price rises dramatically........time to get out.

roadrunner · July 13, 2008 3:16AM

Shoeshine boy? I'm in a fairly large company with down to earth people who know how to value a buck and I know of NO ONE else who is diversified into gold in any way. In fact any time I bring it up I'm greeting with "why don't we burn the witch at the stake" look.

I had a meeting with a contractor last week and while he was diversified into gold somewhat via a gold stock fund, he was quick to explain to me how "Jimmy Carter" took us off the gold standard and really messed things up. To sum it up, there's a lot of mis-understanding to plow through with gold before the sheeple know about it. Carter had his weaknesses, but setting up the economy for a fall was done by his predecessors.

7over8, I generally agree with you. But the FED and PPT have many connections and with quick phone calls can get many of their buds lined up to do their dirty work for them (ie sell gold short). They can then spend their time figuring out how to saddle the tax payers with the Fannie/Freddie mess. The BSC mess back in March was pretty bad as well and the FED/PPT had time to dump the gold market as well as to swindle the taxpayers and give BSC to JPM (who probably held a large number of Bear's counterparty winning defaults). Bottom line is that the PTB will make money on the run-up, and then know precisely when the dump-down is coming considering that they orchestrate it.

I don't play the standard stock market other than what's forced via my 401K because it's a sham as coordinated today. But from here I would expect a rally only because no one (except the big players)would expect it...plus it's cyclically oversold with tons of negative sentiment. The timing of the Fannie/Freddie/IndyBank mess doesn't help, but it won't stop the PPT and their buds from bidding up the stock market. I'll stay in a market with a primary bull trend and leave the Dow/S&P to the traders.

roadrunner

RedneckHB · July 13, 2008 3:30AM

The sliding DOW, saved by Bernanke's comments, which were later recanted, promising funding to two Govie agencies in trouble, FANNIE and FREDDIE

Bernanke did not make any comments. It was just a rumor, as was much of the misinformation distributed on Friday.

derryb · July 13, 2008 3:44AM

Roadrunner, the bank crisis is just getting started. Before it is over no one is going to trust anyone. Pieces of paper, regardless of color or size, are going be hard to sell to anyone. Hard assests will be the next bubble.

charley · July 13, 2008 3:53AM

In that case, I can conclude with a high degee of certainty that Viagra stock will crumble. I will sell. Respectfully, John Curlis

originalisbest · July 13, 2008 3:54AM

Uh-oh, you said the "bubble" word.

roadrunner · July 13, 2008 3:56AM

One could call what's coming a hard asset/commodities bubble but to me it's the place of last refuge: non-paper, legitimate value, etc. whether it's food, metals, fuel, etc. There will be no "bubble" after this one as this is where the final shakeout and destruction of debt/money will come from.

These swing are generally only profitable for traders, and only the good traders. If there are traders reading coin boards for advice and taking that advice, a good percentage of them will be broke soon enough. Again, asking Internet forums for financial advice is generally a fool's game. There are some nuggets of information, but the noise ratio is extremely high. The novice tends to mistake noise for information, and tends to lose money because of it.

Probably half the gold traders lose money as well unless they are connected into the FED/PPT/GS/JPM inner circle. Funny, that some of those traders do lurk on the financial websites looking for information and the next zig or zag. Rob Kirby posted an interesting article on those who visited his web site. The interest roamed from JPM, to state and municipalities, funds, to banks, to major universities and colleges, to the SEC, and even govt's. No, I did not see the FED or Exchange Stabilization Fund listed as users though they probably could have benefited from reading Rob's articles.

In short, the "filtered" advice we see on the forum is a lot more accurate than the drivel coming out of Wall Street, CNN, leading magazines, newspapers, financial talk-shows, and mainstream media. Crapper and Crudlowe was one of "favorite" shows.

roadrunner

TwoSides2aCoin · July 13, 2008 4:13AM

<< 

<< One constant about gold that'll never change : the melting point

>>

...ever hear of white powder of gold?

Nothing lasts except the pyramids. >>

No man knows what tomorrow will bring, but the melting point is still the melting point.

charley · July 13, 2008 4:15AM

Thus, my 'point' and conclusion re. Viagra. Respectfully, John Curlis

7over8 · July 13, 2008 4:24AM

That's funny cohodk.....you guys must have missed this....afterwards those words were somewhat retracted...........WOW,,,,just in time to save the falling DOW (knife).................................

Bernanke told GSEs they can use discount window: report

By Wallace Witkowski
Last update: 3:10 p.m. EDT July 11, 2008Comments: 69
SAN FRANCISCO (Market Watch) -- Federal Reserve Chairman Ben Bernanke told Freddie Mac and Fannie Mae they can use the discount window, Reuters reported Friday, citing a source familiar with the matter. Bernanke's comments were made during a Thursday afternoon phone conversation with Freddie Chief Executive Richard Syron, according to Reuters. Shares of Freddie were down 1.8% at $7.86 and Fannie shares were down 21.7% at $10.33 in recent trading after both being down about 40% earlier in the day

charley · July 13, 2008 4:27AM

It is still a report of heresay, not fact. It doesn't quote Mr. Bernanke directly. Respectfully, John Curlis

cladking · July 13, 2008 4:38AM

<< 
No man knows what tomorrow will bring, but the melting point is still the melting point.

>>

"A case in point is Gold. Normally a yellow metal with a precise electrical conductivity and other metallic characteristics, the metallic nature of gold begins to change as the individual gold atoms form chemical combinations of increasingly small numbers. At a microcluster stage, there might be 13 atoms of gold in a single combination. Then, dramatically, at the monoatomic state, gold becomes a forest green color, with a distinctly different chemistry. It’s electrical conductivity goes to zero even as its potential for Superconductivity becomes maximized. Monoatomic gold can exhibit substantial variations in weight, as if it were no longer fully extant in space-time."

It's hard to get definitive information on this stuff but appearances
suggest that it is real and that it's what the early alchemists were really
working on; changing gold back and forth between these different states.

It would seem that most of the heavy metals have these monatomic states
and there is a large place in Arizona where the top foot is 50% pure platinum.

This stuff is frustrating to investigate on the net and I haven't. I do run into
numerous references since it was apparently known in ancient Egypt.

It has no melting point per se but it "vaporizes" at a relatively low temperature.

Now days you have scientists making antigravity machines out of balsa and pap-
per so I'm getting pretty hesitant to ever say never.

charley · July 13, 2008 4:44AM

I liked that, cladking. I have also often pondered if it really melts. Respectfully, John Curlis

roadrunner · July 13, 2008 4:53AM

Sir Isaac Newton shifted his emphasis in later life towards finding those secrets in gold. Odd that the ancients knew of those properties yet it seeemed lost to later man for many centuries. Newton so favored gold that he played a major role in acquiring gold for the British empire. Gold apparently has some mysterious electrical properties that someday may usher in large advances in our technologies. This may be why gold was valued so highly by the ancients and passed along to us today...albeit as a barbarous relic but soon to become more refined.

roadrunner

charley · July 13, 2008 4:55AM

"...soon to become more refined.". Good one, nice play on words. Respectfully, John Curlis

eagle7 · July 13, 2008 5:33AM

I dont know what gold will do tomorrow. But I do know what gold will do before the end of this year. No way is Israel going to wait until we get a new president to attack Iran. They will go with at least two months left on Bush's term. He is a known quantity to them. They trust him to help them in the aftermath. And help he will. So they wont wait. They may not attack tomorrow, but it will be soon. When Israel attacks Iran, gold will go to maybe 3000 an oz overnight. MS64 Saints are a wonderful buy RIGHT NOW! DONT WAIT TOO LONG. Israel will attack Iran by the middle of Sep. JMHO.

charley · July 13, 2008 5:37AM

eagle7, just the opposite could occur if your prediction comes to pass. Respectfully, John Curlis

GFourDriver · July 13, 2008 5:38AM

What is the current discount rate?

7over8 · July 13, 2008 5:42AM

come'on guys .......it's all about information......

when you want to stop the bleeding on the street, you release some info through the media.......

I know you all weren't born yesterday........

eagle7 · July 13, 2008 5:43AM

Well John,
I dont think just the opposite will occur. But the nice thing about it is that we will see what will happen, and we will see soon.
Respectfully
Mark Fitts

RedneckHB · July 13, 2008 5:46AM

destruction of debt/money

Hmmmm....I think I've heard that phrase before.

RedneckHB · July 13, 2008 5:50AM

<< That's funny cohodk.....you guys must have missed this....afterwards those words were somewhat retracted...........WOW,,,,just in time to save the falling DOW (knife).................................

Bernanke told GSEs they can use discount window: report

By Wallace Witkowski
Last update: 3:10 p.m. EDT July 11, 2008Comments: 69
SAN FRANCISCO (Market Watch) -- Federal Reserve Chairman Ben Bernanke told Freddie Mac and Fannie Mae they can use the discount window, Reuters reported Friday, citing a source familiar with the matter. Bernanke's comments were made during a Thursday afternoon phone conversation with Freddie Chief Executive Richard Syron, according to Reuters. Shares of Freddie were down 1.8% at $7.86 and Fannie shares were down 21.7% at $10.33 in recent trading after both being down about 40% earlier in the day >>

I heard the report from Reuters. It was disseminated by a friend of a friend of someone at Fannie or Freddie, I forget which one. It made for some very interesting, ie profitable, trading on Friday.

In times like these, rumor will outnumber fact by many multiples.

Gold to do what ???? on Monday AM

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