Thanks Muh...interesting

seems like gold is powering on and on !

don't know what the relative values mean, but it looks interesting (if you want confirmation bias)

see attached

did the most silliest thing last night ,

shorted gold, went against the number one rule of trading. Never go against the trend.

got stopped out this morning and i am mad not at losing the money but not being disciplined enough. I am spooked by gold, when I went long at 992 not long ago i got stopped at 983 before it flew to where it is now. I WANTED TO HAVE THE LAST LAUGH.

I am sure there are a lot of shorters lining up for this "Huge" trade. but be careful, i am paranoid to the extent where i think this market is also being manipulated. .....

Hi Ben,

What the graph shows is that If you added up all the gold ever mined on planet Earth, its total value would equal about US$5 trillion (at today's prices). If you look at how this compares to the money spent on bailouts by the US government in the last 12 months (for example) you will see that you can buy twice the amount of gold ever produced on planet Earth with the bailout money spent by the US government . What it means is probably that if the governments of the world keep on printing money for bailouts, etc., then the price of gold should go up since you cannot produce gold from thin air - that is, the more money you print the higher the price of gold.

Good investing,

Beng

That's what I thought Ben(g). But is the relationship direct?

Clearly the gold bugs are out in force, because it is
- an inflation hedge
- a safe haven
- a non corellated asset to nervous equity markets
- a trend

Hi Benthonic,

I don't think the relationship is direct because other factors like supply and demand for gold will affect the gold price. However, the debasement of US dollar has certainly boosted the price of gold and other precious metals.

Good investing,

Beng

Well, I just have a fresh look at gold, like some kind of alien:) - no real value, just a tradition. Who can guarantee, that one day somebody wouldn't yell =the KIng has no clothing.. or something like that.
Just 12% used for manufacturing -the rest -pretty useless...

But tradition it is ! think about it , civilisation has held respect for this yellow metal for at least 7000 years.

Attended Hunter hall agm yesterday and they put up a graph where it showed that after 1496 - when so called the "new world" was discovered, the supply of gold increased dramatically thus the value of gold eroded from then until now(1496 till now is a very long time), what seems to be happening now is that gold production is falling , it is harder to find this yellow stuff, and we dont have any "new worlds" to discover unless if we can start mining on the moon.

logically Gold is just a yellow metal, but then again when was the last time the world "ran" on just logic

2/12/2009 2:39am
Gold hits $1,201.80/oz

Can't sleep due to Interest Rate killing machine.
Watching live gold chart

recently listed gold company Coventry CVY came in with some good drill results at their Canadian lease

Coventry Resources Limited (“Coventry” or “the Company”; ASX: CVY) is pleased to advise that it completed its initial drilling program at the Ardeen Gold Project in Ontario, Canada in late November 2009. Fifty-three (53) diamond drill holes were completed totalling 6,435 metres. Final results have now been received for the first 33 drill holes of the program. Results for the first ten holes (09CADD001-010) have been reported previously. The Company is pleased to now report on results for the subsequent twenty three holes (09CADD011-033). Results for the remaining 20 holes are pending

EXCEPTIONAL HIGH GRADE DRILLING RESULTS – ARDEEN GOLD PROJECT -HIGHLIGHTS
- Company’s inaugural diamond drilling program at the Ardeen Gold Project completed (53 holes for 6,345 metres).
- Final assay results received for a further 23 drill holes.
- Significant gold mineralisation intersected in 13 of these 23 drill holes.
- Exceptional high-grade results returned from the Fisher Prospect, including:
- 11.6 metres at 27.0 g/t gold from 22.5 metres
- 9.1 metres at 8.45 g/t gold from 8.5 metres
- 2.3 metres at 3.82 g/t gold from 34.5 metres
- 0.8 metres at 8.88 g/t gold from 25.2 metres
- Encouraging results returned from the first three holes ever drilled at the Post Prospect, including:
- 1.56 metres at 4.25 g/t gold from 73.5 metres
- Analytical results for the remaining 20 drill holes expected during the next 1-2 months.
- Re-sampling and analysis of ~12,000 metres of historic diamond drill core underway and to accelerate through the northern hemisphere winter.
- Winter drilling program to access prospective targets under swamp cover, including much of the high priority McKellar Prospect, planned for early February 2010.
- Laboratory analysis of samples collected as part of a large scale till and humus sampling program in progress with results expected early 2010.
- Evaluation of additional acquisition opportunities in the Archaean Superior Province of Canada continuing - discussions with several parties initiated.
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SP up (I hold)

Interesting graph today.
http://www.sharecafe.com.au/dreck.asp?a=AV&ai=15222
Gold....Selling is the Hardest Part
BY ERIC FRY - 03/12/2009 in SHARECAFE