Gold

sparty419 wrote:Thanks for the explanation BChad. Quick question, is gold tracked the same way in the various financial news websites? For example, right now, I see gold on bloomberg.com showing me $1,717.90 while yahoo finance is showing me $1,691.60. That’s a huge difference.
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Sometimes they report gold futures contracts with different settlement dates. Right now it appears they’re both using the Dec11 contract. For a more comprehensive look at the futures curve, go here:
http://www.cmegroup.com/trading/metals/precious/gold.html
 
Turd Fergeson wrote:what is the argument made in Lords of Finance?
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Too long to go into here, buy it and read it, you won’t regret it (starts off a bit slow but the last half of it is fantastic)
 
well if it’s the whole “we need an elastic money supply curve argument” i disagree. Sure once you’re faced with a depression, you need to be able to put money into the system to avoid deflation. but the cause in the first place was too much money, created through the banking system in the form of debt which turned out to be bad debt. I’d amend my argument to include fractional reserve banking as the cause of currency debasement.
 
Merrill Lynch recently released their 10 key macro themes and key trades for 2012. #1 key trade? Gold. Their 12-month price target is $2,000/oz, or about a 17% gain from recent levels.
It’s taken them a few years, but they’re finally coming around. With the largest wealth manager in the US now firmly backing a gold trade, maybe we’ll see some retail flows.
 
I like Merrill’s #2 macro theme key trade - Short BAC.
I don’t exactly see why that’s a macro theme, but they have some authority for recommending it.
 
shorting BAC is just shorting the US housing market, so its really a macro theme.
 
End of the bull run?????? whats the reason now? I would expect with all this chaos that this would be the time to actually get into it…
 
^ Someone will be saying that all the way down. Have seen it happen many times before.
 
i had bought some gold at this level a few months ago..was happy for a short while..guess it was not the best move..i think i have an amazing skill, whatever i invest in moves the opposite of what i want.
 
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