Gold??

[Preston]

Gold has hit an all time high at R1700, but the reality of this, is gold is such a useless metal that do not add value to us. I rather buy Plats than gold. Plats has economic value.

[Preston]

sorry , should read $1700

[Russ]

Compare gld's 5 year chart to any of the platinum miners.Who cares if gold has any economic value if you are invested in gld?

[SimonPB]

compare apples with apples .. Gold vs. Plat, not Gold vs. Plat miner ..

[Russ]

Good point.In both cases I would rather buy the metals than the miners.Is there an etf for plat?

[SimonPB]

en ETN, yes ..

[sponono]

precisely the point. who cares why a counter is in the money. reasons are associated with thinking and thinking is not allowed in trading. trade the trend until it shows signs of tiredness and then exit. a counter sitting at a 4th stage base is tired in my books.

[Fredsed]

Eureka! Trading is for the mindless! Awesome

[Preston]

Always ask yourself , why ?? Trading the trend is acceptable but sooner or later , thinking with blinkers on , will catch you out :-)

[sponono]

agreed but I believe the market does only four things at any given time: rallies, corrects, trade in a range or there is a change in trend. knowing where you are in the trade will either make you money or save you some. your job as a trade is align your beliefs about the market in terms of where it is in these four stages. van Tharpe's newsletter of 5 August demonstrate this point clearly. http://app.bronto.com/public/?q=preview_message&fn=Link&t=1&ssid=10920&id=jw7f790216mk7999871yxq4zcl...

[THRESHOLD]

Actually - many traders have perfectly good minds - until the trading takes their sanity!

[#12]

Sell to the sleeping point, JP MORGAN. "I buy when there's blood in the streets," ROTHSCHILD. "The ALSI is always my Multiple-Personality-Disorder Buddy,"...ZARP.

[Wizard]

Zarp for President!!!!

[striker]

- It appears the rest of the planet thinks differently - Gold now at $ 1755, has overtaken platinum. Could be that Platinum is still a relevantly abundant metal, while Gold is not and would appear to be the only real store of value in a turbulent world.

[#15]

Ah, but central banks don't keep Platinum do they? And platinum ETN's are in their infancy. And platinum jewelry demand is also not like Gold, so you can't compare that demand either. Nah bud, you cannot compare plat & gold at all. They are driven by completely different dynamics. The one has its fortunes linked to industrial demand - and the other by speculation, hype, central banks - and a nineteen foetsak mentality.

[THRESHOLD]

Platinum is roughly 12x more scarce than gold. Paladium is also rarer than gold. But if you have no use for it... If gold runs high enough - platinum (and paladium) will follow as alternative "bullion" metals. BUT THAT IS A LONG WAY OFF - and until then - we need gold to park our paper money and there is doubt about platinum / paladium because we may not need cars, jets, flatscreen tv's etc. This, like all things, will change.

[partridge]

JOHN KAY ( who apart from myself no-one on this site seems to have either read or heard of ( that'll get a reaction! -and on the other hand - maybe not? )) summed it up on Bloomberg this am : there is no ultimate safe haven or store of value. While the swissie (as opposed to the poundie) is doing well its as well to remember that.

[striker]

- Well as Simon always say's, trade the price, follow the trend even if John Kay should suggest otherwise.

[#19]

If gold has reached this incredible safe haven status and fantastic price, why don't the yanks et al simply sell some of their stocks to pay their debts? Look what happened when the Bunker Hunt brothers tried to corner silver or this merely a ploy by the central banks to chase up the price before they do sell?

[#20]

I don't think they can sell their reserves. Because then they would have to replace it with something else - as the reserves are required for capital adequacy (sp?) ratios. If they sell the gold in any significant quantity, they would risk depressing the price.