22 replies to this topic

[dharma]

since 99 or 01 depending upon your bent, gold prices have worked steadily higher. and during that entire time abx has hedged its production. its hedge book is deep in loses as their strategy worked against them. they had hired folks to guide them through the gold market price, and as a result their strategy has given them breath taking loses in the billions of dollars range. now, i am not, and have not been a fan of abx. if they do not believe in higher gold prices, why should i invest in their company? what is striking to me is the timing of their exit strategy? i am a bull on the long term prospects for the price of gold and abx has only now turned bullish also, the imf has announced and reannounced their sale of gold. and this time @the critical 1k price. in any event this gold will never hit the market , it will be bought by a govt, or govts. the point is that they are trying to suppress the gold price. this is not a new game , the same thing occurred in the last bull. it is a failed tactic. they will run out of things to throw @this market the dollar is a badly flawed fiat currency, although rallies will occur it remains to be seen if its safe haven status will be seen again. the next crises will give us some insight. gold is not a religion for me but an investment vehicle and when its time is up , i will jump ship, but @present the deck is stacking in its favor. corrections are part of the process dharma

[JGUITARSLIM]

I also believe there has been good attempt at taking Gold down here (i.e. IMF, COT shorts, etc.). The fact that Gold is still trading over 1000 as I type, is telling me something...

[dharma]

yes me too i am doing some light buying in juniors. trading dharma

[johngeorge]

yes me too
i am doing some light buying in juniors. trading
dharma

I am taking the opposite tact here, dharma. Waiting for a short term rise in gold to add to my DZZ position.

Best to you.

[JGUITARSLIM]

yes me too
i am doing some light buying in juniors. trading
dharma

I am taking the opposite tact here, dharma. Waiting for a short term rise in gold to add to my DZZ position.

Best to you.

Not my strategy (I try to not short bull markets), but if so inclined looking for a test of 1013 here....

[gvc]

I also believe there has been good attempt at taking Gold down here (i.e. IMF, COT shorts, etc.).
The fact that Gold is still trading over 1000 as I type, is telling me something...

all they have to do is figure a way to strengthen the dollar..easier said than done, I suppose.

[dharma]

yes me too
i am doing some light buying in juniors. trading
dharma

I am taking the opposite tact here, dharma. Waiting for a short term rise in gold to add to my DZZ position.

Best to you.

Not my strategy (I try to not short bull markets), but if so inclined looking for a test of 1013 here....

this is one of my rules. if my timing is wrong shorting a bull, i will lose money. i never short the trend. dharma

[dharma]

all fiat is flawed the dollar has increasing debt and is flawed betting on the long dollar will be costly, its bottom lies much much lower there will be shorting opportunities, ie rallies this rally may have legs. fed meeting today and tomorrow g20 this weekend dharma

[dougie]

how can anyone argue with that? but thAT IS WhaT makes a market

[dharma]

man, oh man, this board is dead , gold up 11.5 and it is dead. that is a pretty telling sign i would say. and we are @1015 no less. dharma