Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

HONG KONG GOLD UP $8 AND SILVER UP $.50
Forex ^ | 16 April 8:04 p.m. CST | Forex Staff

Posted on 04/16/2006 6:06:28 PM PDT by shrinkermd

Gold and silver on a tear overseas. Also, oil seems to be breaking $70 a barrel. Anticipating problems tomorrow or just commodities on an upswing?


TOPICS: Anthrax Scare; Business/Economy; Foreign Affairs; Political Humor/Cartoons
KEYWORDS: 1929; cannedfood; cantdrinkgold; canteatgold; crisis; doomandgloomclub; doomed; downwithprosperity; gold; goldberry; goldbugs; goldenarches; goldenflow; goldfinger; goldilocks; goldplatedfools; gunstrumpcoins; iranbombing; loonytunes; mideast; nofaithintheusa; onetrickpony; silver; stoppedclock; theend; wehateprosperity; weredoomed; worrywarts; youstillownpaper
Navigation: use the links below to view more comments.
first 1-5051-66 next last
Things seem to change in an erratic fashion but with an upward bias.
1 posted on 04/16/2006 6:06:31 PM PDT by shrinkermd
[ Post Reply | Private Reply | View Replies]

To: shrinkermd

Something is up...........


2 posted on 04/16/2006 6:07:23 PM PDT by ConservativeMan55 (DON'T FIRE UNTIL YOU SEE THE WHITES OF THE CURTAINS THEY ARE WEARING ON THEIR HEADS !)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ConservativeMan55

Remember the large quantities of stock which were bought directly before September 11th? All the changes?


3 posted on 04/16/2006 6:10:31 PM PDT by ConservativeMan55 (DON'T FIRE UNTIL YOU SEE THE WHITES OF THE CURTAINS THEY ARE WEARING ON THEIR HEADS !)
[ Post Reply | Private Reply | To 2 | View Replies]

To: shrinkermd
I'm thinking that traders are expecting a disruption in oil supplies sometime this year.

If oil gets much higher, it will have very disruptive effects on the economy

4 posted on 04/16/2006 6:10:47 PM PDT by SauronOfMordor (A planned society is most appealing to those with the hubris to think they will be the planners)
[ Post Reply | Private Reply | To 1 | View Replies]

To: shrinkermd

This means we're doomed, yes?


5 posted on 04/16/2006 6:11:09 PM PDT by thoughtomator (That new ring around Uranus is courtesy of the IRS)
[ Post Reply | Private Reply | To 1 | View Replies]

To: shrinkermd

If precious metals prices hold up tomorrow, it's blastoff time. Should go up for the next month before correcting.


6 posted on 04/16/2006 6:11:29 PM PDT by Cicero (Marcus Tullius)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ConservativeMan55

Um, yeah. Gold, silver and oil. Like the article said.


7 posted on 04/16/2006 6:11:55 PM PDT by saganite (The poster formerly known as Arkie 2)
[ Post Reply | Private Reply | To 2 | View Replies]

To: thoughtomator

Again? Jeez, I was just doomed last week but it turned out just to be the 24-hour kind.


8 posted on 04/16/2006 6:14:18 PM PDT by Doohickey (Democrats are nothing without a constituency of victims.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: shrinkermd

It's just the dollar continuing its collapse.


9 posted on 04/16/2006 6:15:33 PM PDT by Rockitz (This isn't rocket science- Follow the money and you'll find the truth.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rockitz

Bingo. And oil jitters. And inflation fears.


10 posted on 04/16/2006 6:16:52 PM PDT by 4U2OUI (Iran,YOU are the target.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Rockitz
It's just the dollar continuing its collapse.

Why would that be? It is printed on the best ink we got.

11 posted on 04/16/2006 6:17:14 PM PDT by bjs1779
[ Post Reply | Private Reply | To 9 | View Replies]

To: shrinkermd

Traders may be dialing in the probability of a "pre-emptive" strike against those retarded Iranians.


12 posted on 04/16/2006 6:21:00 PM PDT by kcar ( Wonder if that's a line at TradingSports.com?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kcar

How many more countries are we going to 24/7 saber rattle to run up oil more?


13 posted on 04/16/2006 6:22:39 PM PDT by spanalot
[ Post Reply | Private Reply | To 12 | View Replies]

To: thoughtomator
This means we're doomed, yes?

Absolutely. This is series.

14 posted on 04/16/2006 6:23:03 PM PDT by SIDENET (Gonna shake it, gonna break it, let's forget it better still)
[ Post Reply | Private Reply | To 5 | View Replies]

To: spanalot

Well, there's always Venezuela, after Iran that is.


15 posted on 04/16/2006 6:24:51 PM PDT by kcar ( Wonder if that's a line at TradingSports.com?)
[ Post Reply | Private Reply | To 13 | View Replies]

To: shrinkermd

The gold infomercial on the radio says it will break $1,000/oz. Maybe that wasn't hype after all.


16 posted on 04/16/2006 6:26:21 PM PDT by vox humana
[ Post Reply | Private Reply | To 1 | View Replies]

To: shrinkermd

17 posted on 04/16/2006 6:26:27 PM PDT by Cicero (Marcus Tullius)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Doohickey

That's what a case of slyders will do to you.

http://www.whitecastle.com/


18 posted on 04/16/2006 6:27:19 PM PDT by Westlander (Unleash the Neutron Bomb)
[ Post Reply | Private Reply | To 8 | View Replies]

To: kcar

"Well, there's always Venezuela, after Iran that is."

Maybe Nigeria too , before we run out of boogeymen. I guess I'll go short then - at about $200.


19 posted on 04/16/2006 6:28:15 PM PDT by spanalot
[ Post Reply | Private Reply | To 15 | View Replies]

To: shrinkermd

Silver up $0.55. Gold up $9.10


20 posted on 04/16/2006 6:29:31 PM PDT by 4U2OUI (Iran,YOU are the target.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cicero

Interesting, the upswing corresponds with the opening of the Hong Kong exchange. Wonder what the Chicoms are up to?


21 posted on 04/16/2006 6:33:27 PM PDT by thoughtomator (That new ring around Uranus is courtesy of the IRS)
[ Post Reply | Private Reply | To 17 | View Replies]

To: shrinkermd

Gold's historic high was set on January 21st, 1980 at $850 an ounce. I fully expect to see it reach, and surpass those levels.


22 posted on 04/16/2006 6:33:34 PM PDT by Old_Mil (http://www.constitutionparty.org - Forging a Rebirth of Freedom.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: shrinkermd

You mean the dollar is still dropping?


23 posted on 04/16/2006 6:35:47 PM PDT by balrog666 (There is no freedom like knowledge, no slavery like ignorance. - Ali ibn Ali-Talib)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Old_Mil

The 850 number is not even inflation adjusted. You know, when people say "Gas cost more than it ever did", you always get somebody piping in talking about inflation adjusted gas prices were higher in 80 than now.

current gold spot up $9.20, silver up .59


24 posted on 04/16/2006 6:38:11 PM PDT by djf (Bedtime story: Once upon a time, they snuck on the boat and threw the tea over. In a land far away..)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Old_Mil

I agree with you, and I believe that if you look at it in terms of commodity cycles and currency inflation, gold is still undervalued at $600.


25 posted on 04/16/2006 6:39:47 PM PDT by BlackVeil
[ Post Reply | Private Reply | To 22 | View Replies]

To: shrinkermd

Paradigm shift continuing merrily along.


26 posted on 04/16/2006 6:41:51 PM PDT by TEEHEE
[ Post Reply | Private Reply | To 1 | View Replies]

To: shrinkermd

All I can say, is I ask myself the same questions as you. In Australia - heaps of rumours about what is driving oil and some commodities up.

Also - uranium and copper are rising extremely fast. There is a market for them which seems very high and ever rising.

I do fear this is a sign of military action, but perhaps stocks are low (copper and uranium are used in shells and bombs, millions of which have been fired in recent years.)


27 posted on 04/16/2006 6:42:00 PM PDT by BlackVeil
[ Post Reply | Private Reply | To 1 | View Replies]

To: Old_Mil
Gold's historic high was set on January 21st, 1980 at $850 an ounce. I fully expect to see it reach, and surpass those levels.

As do I.

28 posted on 04/16/2006 6:42:54 PM PDT by Rockitz (This isn't rocket science- Follow the money and you'll find the truth.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: TEEHEE

Yup. All the paper currencies in the world are hell bent on competitively devaluing themselves so that their export markets don't go down the toilet.

So it's a commodities bull. Big time.


29 posted on 04/16/2006 6:45:38 PM PDT by djf (Bedtime story: Once upon a time, they snuck on the boat and threw the tea over. In a land far away..)
[ Post Reply | Private Reply | To 26 | View Replies]

To: thoughtomator
This means we're doomed, yes?

Only if you shorted contracts of gold. Then, you certainly are!

30 posted on 04/16/2006 6:49:24 PM PDT by neutrino (Globalization is the economic treason that dare not speak its name.(173))
[ Post Reply | Private Reply | To 5 | View Replies]

To: djf
So it's a commodities bull. Big time.

And...if these economic cycles run approximately 20yrs, and we're only 5yrs into the commodity bull, we have a looong way to go before gold/silver/copper/oil run out of steam. Gonna a very different world at the end of this bull ride.

31 posted on 04/16/2006 6:55:31 PM PDT by TEEHEE
[ Post Reply | Private Reply | To 29 | View Replies]

To: 4U2OUI

I bought a certain amount of gold coins when it was $300/oz. I like them. I will sell @ $1000/oz.


32 posted on 04/16/2006 7:02:28 PM PDT by BobS
[ Post Reply | Private Reply | To 20 | View Replies]

To: TEEHEE

Problem is the shorts are so exposed, they're gonna get killed.

I wouldn't walk on the sidewalk near any highrises in the financial districts if I were you...


33 posted on 04/16/2006 7:02:51 PM PDT by djf (Bedtime story: Once upon a time, they snuck on the boat and threw the tea over. In a land far away..)
[ Post Reply | Private Reply | To 31 | View Replies]

To: ConservativeMan55
Remember the large quantities of stock which were bought directly before September 11th? All the changes?

Unlike 911, its fairly common knowledge the FedGov intends to destroy the dollar.

34 posted on 04/16/2006 7:27:22 PM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: djf

I want a 1910 Russian Ruble. As an equal trade for California gold.


35 posted on 04/16/2006 7:27:27 PM PDT by BobS
[ Post Reply | Private Reply | To 33 | View Replies]

To: bjs1779

And very fancy 3D paper!


36 posted on 04/16/2006 7:29:26 PM PDT by BenLurkin (O beautiful for patriot dream - that sees beyond the years)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Old_Mil
Gold's historic high was set on January 21st, 1980 at $850 an ounce. I fully expect to see it reach, and surpass those levels.

If you factor in inflation when and if gold reaches 850 dollars it is still about half of what it was in 1980.

37 posted on 04/16/2006 7:33:39 PM PDT by cpdiii (roughneck (oil field trash and proud of it), geologist, pilot, pharmacist, full time iconoclast)
[ Post Reply | Private Reply | To 22 | View Replies]

To: All

Discontinuance of M3

On March 23, 2006, the Board of Governors of the Federal Reserve System will cease publication of the M3 monetary aggregate. The Board will also cease publishing the following components: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release.

Measures of large-denomination time deposits will continue to be published by the Board in the Flow of Funds Accounts (Z.1 release) on a quarterly basis and in the H.8 release on a weekly basis (for commercial banks).

M3 does not appear to convey any additional information about economic activity that is not already embodied in M2 and has not played a role in the monetary policy process for many years. Consequently, the Board judged that the costs of collecting the underlying data and publishing M3 outweigh the benefits.

38 posted on 04/16/2006 7:34:25 PM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: AdamSelene235
M3 does not appear to convey any additional information about economic activity that is not already embodied in M2 and has not played a role in the monetary policy process for many years. Consequently, the Board judged that the costs of collecting the underlying data and publishing M3 outweigh the benefits.

"The Board of Governors of the Federal Reserve asks that you pay no attention to the fact that gold has gone straight up since the M3 announcement. Gold is barbarous and stuff. It's not relevant. Really. Go Bucky."

39 posted on 04/16/2006 7:41:26 PM PDT by TEEHEE
[ Post Reply | Private Reply | To 38 | View Replies]

To: djf

ok -- I will pipe in and note that inflation since 1/21/80 has been about 2.3-2.5 times, depending on what index you use, so that $850 then = $1900-$2200 now -- so we are at or under 1/3 of the 1980 high!


40 posted on 04/16/2006 7:46:57 PM PDT by BohDaThone
[ Post Reply | Private Reply | To 24 | View Replies]

To: BohDaThone

Historically, also, the gold/silver ratio is about 15 to one. So even if gold just stays where it is, that would mean 40 dollar silver.
If gold were to go to the inflation adjusted numbers, that means silver in the 120-140 range.

But it's just numbers. It may be that by the time that happens, TP is worth even more!


41 posted on 04/16/2006 7:51:24 PM PDT by djf (Bedtime story: Once upon a time, they snuck on the boat and threw the tea over. In a land far away..)
[ Post Reply | Private Reply | To 40 | View Replies]

To: All
Where is the FR economic discussion hit team ?

We need some good old fashioned gold buggery name calling to get this thread going. /sarc

42 posted on 04/16/2006 7:54:47 PM PDT by simon says what
[ Post Reply | Private Reply | To 38 | View Replies]

To: simon says what

So that bald-headed gomer on TV ("Gold--Buy it!") wasn't just a-whistlin' Dixie.
I hoarded a lot of pre-`64 coins, then sold them for 9 times face-value in `82. Paid for my books & tuition.


43 posted on 04/16/2006 8:03:40 PM PDT by OkieDoke
[ Post Reply | Private Reply | To 42 | View Replies]

To: simon says what

"BAHOG!" etc...


44 posted on 04/16/2006 8:13:07 PM PDT by TEEHEE
[ Post Reply | Private Reply | To 42 | View Replies]

To: cpdiii
... it is still about half of what it was in 1980.

An old Apple computer of that era ran you a grand or two depending. By your logic, personal computers would cost $10-$15k instead of $300-$500. The price of gold recorded in the papers is the "marginal price of gold" which by its nature has to be volatile as the market seeks out the worth of gold to the most marginal user. A sudden rush of gold (or any commodity) into the market would rapidly depress the price you see in the papers until the market clears the available product. The market is working to maintain a relatively constant ratio between the price of gold and the price of a barrel of oil. The two move in tandem.

With the Federal Reserve raising interest rates to some of the highest in the G-7, the dollar become more attractive. The value of currency is set by the relative ratio of the government guaranteed riskless return of a bond denominated in that currency.
45 posted on 04/16/2006 8:16:40 PM PDT by sefarkas (Why vote Democrat Lite?)
[ Post Reply | Private Reply | To 37 | View Replies]

To: sefarkas
The market is working to maintain a relatively constant ratio between the price of gold and the price of a barrel of oil. The two move in tandem.

No they do not. Just a few years ago oil bottomed out at 7 dollars a barrel. Gold was about 275 dollars an ounce. Oil responds to free market forces of supply and demand and to a certain extent fear. Golds price is controlled mostly by fear. Commodities will rise as a group. Gold will also rise as a commodity but will also have wild swings in value based on fear in the market. When people are afraid, as now, it is a good investment.

46 posted on 04/16/2006 8:23:15 PM PDT by cpdiii (roughneck (oil field trash and proud of it), geologist, pilot, pharmacist, full time iconoclast)
[ Post Reply | Private Reply | To 45 | View Replies]

To: cpdiii

The barrel of oil to ounce of gold ratio fluctuates from roughly 10 to roughly 30. The ratio helps normalize out the changing value of the dollar relative to other currencies. "Fear" is not a rational basis for making decisions concerning large investment positions.


47 posted on 04/16/2006 8:31:07 PM PDT by sefarkas (Why vote Democrat Lite?)
[ Post Reply | Private Reply | To 46 | View Replies]

To: BobS

Yeah, me too. Held it for almost 20 years. Also got some junk silver for around $4.00 an ounce. I was shocked that silver was at $12.86 last week as I hadn't been following the upswing on silver.

Some "experts" (invest at your own risk) think we are in for another 3-5 years of bullish prices on metals.


48 posted on 04/16/2006 8:33:19 PM PDT by happydogx2 (Let Freedom Reign!!)
[ Post Reply | Private Reply | To 32 | View Replies]

To: djf
Your claim of gold:silver having been "historically 15-1" doesn't seem right. William Jennings Bryan, in 1896, tried to make the Gov't fix it at 16-1, because there was lots of silver, in the sense that the real price was about 40-1, so that declaring, by fiat, that silver was worth 1/16 of gold, at a time of gold standard, was the equivalent of printing money!

I don't have the charts at my fingertips, but I'm sure someone does. Over the last 10 years, until very recently, gold was $200-400/oz, and I think silver was $2-5. The old, "fixed" price, from 1933-c.1975 was $35 for gold and $1.29 for silver, or about 30-1.

It is true that at the top of the speculative bubble in 1979-80, Gold was 850 and silver almost 50, or close to 16-1, but Silver ws much more "bubbled", and fell much faster, so the ratio grew back towards 30-1 or so.

I'm not saying that there is any "right" ratio (in fact, I would say that there isn't), but I think that the times when a free market price of silver was as much as 1/16 that of gold have been pretty rare -- but I'm sure someone has the charts with real answer.

49 posted on 04/16/2006 8:43:47 PM PDT by BohDaThone
[ Post Reply | Private Reply | To 41 | View Replies]

To: sefarkas
"Fear" is not a rational basis for making decisions concerning large investment positions.

You are correct and that is why I am not in the commodities market any more. I made considerable money in it in the early 80s. One day I lost 8000 dollars in an afternoon, actually between 130 pm and market close in Chicago. I was still far ahead in the game and decided it was not a rational game. Would I invest in commodities today? Yes I would, but only in the companies that produce them, the futures market is not for the faint of heart. Would I invest in gold and oil? No.

50 posted on 04/16/2006 8:55:17 PM PDT by cpdiii (roughneck (oil field trash and proud of it), geologist, pilot, pharmacist, full time iconoclast)
[ Post Reply | Private Reply | To 47 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-66 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson