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Gold (took a small short position today on 5/25)

Posted on 1/27/11 at 6:58 pm
Posted by LSU0358
Member since Jan 2005
7918 posts
Posted on 1/27/11 at 6:58 pm
I entered heavily into gold today...anything south of 1280 I'll be out

ETA: Update on page 4 made on 5/25
This post was edited on 5/25/11 at 3:20 pm
Posted by NELAtigers
Member since Nov 2010
1279 posts
Posted on 1/27/11 at 7:06 pm to
I have been looking at some ETF's that short Gold.
Posted by GumboPot
Member since Mar 2009
118758 posts
Posted on 1/27/11 at 7:06 pm to
What were your reason to enter into gold?

Just wondering if you don't mind.
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75183 posts
Posted on 1/27/11 at 7:10 pm to
it went down 14 bucks today

Posted by GumboPot
Member since Mar 2009
118758 posts
Posted on 1/27/11 at 7:13 pm to
Is this your reason for entering gold?
Posted by LSU0358
Member since Jan 2005
7918 posts
Posted on 1/27/11 at 7:33 pm to
It actually went down $34...they screwed with the close yesterday...I think we see 1700+ on the next 4 months
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
72615 posts
Posted on 1/27/11 at 9:19 pm to
Are you long in a futures contract for gold or an ETF?
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 1/27/11 at 10:19 pm to
Anyone bought physical gold yet? I might get some allocated bars.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 1/27/11 at 10:19 pm to
Anyone bought physical gold yet? I might get some allocated bars.
Posted by Y.A. Tittle
Member since Sep 2003
101387 posts
Posted on 1/27/11 at 10:38 pm to
quote:

I might get some allocated bars.
You mean like this?:
quote:

London Good Delivery Bars, which weigh approximately 400 toz (troy ounces), or 12.4kg, and are at least 99.5% pure. Each bar is stamped with a unique Serial number, the Refiner’s Assay stamp, the Fineness, and the year of manufacture, and has an unbroken Chain of Integrity guaranteed by the LBMA and its member banks and assayers. The cost of each bar is determined by its gross weight, its purity, and the price of gold on the London Market. At $600 per ounce, each bar would be worth on the order of $240,000.
How many you looking to pick up?
Posted by The Easter Bunny
Minnesota
Member since Jan 2005
45568 posts
Posted on 1/28/11 at 12:03 am to
my f-i-l has some bullion that he got back in the 70s

only person I know with physical gold that isn't jewelry
Posted by Doc Fenton
New York, NY
Member since Feb 2007
52698 posts
Posted on 1/28/11 at 5:09 am to
quote:

I think we see 1700+ on the next 4 months


Based on what?

Certainly not based on expectations of U.S. consumer prices.
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123887 posts
Posted on 1/28/11 at 6:23 am to
quote:

Based on what?
Serious question, What happens to gold if US credit is downgraded?
Posted by Doc Fenton
New York, NY
Member since Feb 2007
52698 posts
Posted on 1/28/11 at 6:37 am to
It would likely rise, but we're nowhere near that happening though. Maybe in 2030.
This post was edited on 1/28/11 at 6:39 am
Posted by tirebiter
7K R&G chile land aka SF
Member since Oct 2006
9204 posts
Posted on 1/28/11 at 9:42 am to
A good read on gold from Oaktree:

All That Glitters

Posted by LSU0358
Member since Jan 2005
7918 posts
Posted on 1/28/11 at 10:03 am to
quote:

U.S. consumer prices.


I don't think it's that big of player in gold prices...The consumer price index formulas have been so manipulated they aren't really a good indicator any more.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 1/28/11 at 10:24 am to
quote:

You mean like this?:


Yes sort of. Not bars that big.

Posted by Y.A. Tittle
Member since Sep 2003
101387 posts
Posted on 1/28/11 at 11:26 am to
quote:

Yes sort of. Not bars that big.


Gotcha. So they come in various sizes, and not just one standard such as I cited? That's what I was wondering.

Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 1/28/11 at 11:45 am to
Scoop:AAPL::LSU0358:gold
Posted by saint308
LA
Member since Oct 2010
496 posts
Posted on 1/28/11 at 1:04 pm to
Gold Bullion Bars - 1 Ounce, .9999+
Bid-$1,341.20 Ask-$1,367.00
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