Comments on: Take Profits on Gold: The Media’s Dead Wrong About This Market

By: del

del — Wed, 03 Nov 2010 02:18:35 +0000

i just find it contradicting.

1. the article mentioned the high amount of money paulson dumped into gold.

2. yet raised the part on OTM GLD puts to infer that smart money are betting on a decline.

i don’t do alot of short term trades on gold. but i think argument has to be consistent.

And ya jon nadler is quite an interesting read at times. very similar selective pick and drop of comments/events. Get me thinking at times what role is kitco really trying to serve.

By: Omega

Omega — Mon, 08 Mar 2010 21:38:51 +0000

Glenn Miller:

Granted, but the effect of inflation on gold is minimal at best. We had mega inflation during the 80s yet gold took a dive. The reason I believe in gold most of all is that its price will climb primarily because of the credit crunch (global). Of course the devaluation of all major currencies will have an impact also.

Cheers

By: Jay

Jay — Sun, 13 Dec 2009 23:32:47 +0000

I am a novice in this, but I totally agree with Mr. Wade after closing my longs at 700 (twice in 3 -4 years) after hearing these top callers and still have not got a chance to buy it that low.

By: A. Froehlich

A. Froehlich — Sun, 13 Dec 2009 16:32:50 +0000

I would submit that a “healthcare” expert should not be making public recomendations about the topping of gold. Comments from “Wade” have much more credibility. Watching CNBC and reading most newsletters is a waste. It’s primarily about selling advertising and mining for the uninitiated subscriber that motivates these opinions, IMHO.

By: Bob

Bob — Fri, 11 Dec 2009 06:37:47 +0000

Excellent article and that last comment is the most telling. Gold has had a parabolic rise from 1,000 over such a short time that it is well due for a pullback. However, over the longer term it is still looking good, so I will ride out the temporary storm and not cash in my chips just yet.

By: Raphael

Raphael — Thu, 10 Dec 2009 21:11:53 +0000

Depending on the ratio you look at, you could make a case that the current dollar price of gold is either relatively fair or completely overvalued. In this post I make a case that the ratios in favor of the "fair price" view are the most sensible ones: http://raphaelkahan.blogspot.com/2009/12/gold-is-this-bubble-yet.html

By: wayne shum

wayne shum — Thu, 10 Dec 2009 07:42:28 +0000

Nothing go up forever.All commodities do and will come back down one way or ther. Gold is no exception.

By: john rountree

john rountree — Thu, 10 Dec 2009 04:38:25 +0000

Amen! to what you just said. I doubt that Louis, as well as Karim, are selling their gold coins at this time. You know if Paulson is buying, he senses a temporary blip in the price of gold, and sees this as a buying opportunity because gold will shoot through the roof as stocks befin a correction, and Bernancke keeps on printing those devaluating dollars!

By: AtlantaBubba

AtlantaBubba — Thu, 10 Dec 2009 03:12:45 +0000

Your comments on gold are only partly correct. The big banks are covering their shorts on gold and silver. They have to manipulate the price downward and then finish their dastardly deeds. Can you say JP Morgan?

By: Michael

Michael — Thu, 10 Dec 2009 02:14:35 +0000

Certainly, when the last person with money to spare is convinced to buy gold then the last fool has been drawn into the market and the peak of the bull run has been reached. Then the fall!

Gold is given a value relative to money, but how? It is a special commodity because of its history of actually being money and then being a standard backup for money.

It seems to me that even though we dropped the gold standard and freed debt money from the constraints of gold, there is a tendency to return to using gold to value money, to balance the amount of money in circulation with gold bullion.
Am I wrong?