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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (57677)	11/10/2009 1:56:54 AM
From: Amark$p	1 Recommendation Read Replies (2) \| Respond to of 219534

Andy Smith comments on gold of interest, he used to be with Mitsui and was bearish a few years back, seems to have changed his tune... _________________ Andy Smith, a gold strategist with Bache Commodities in London, says it is not the buyers of the odd Krugerrand who are beginning to take over the buy side of the market. "It's the representatives of the Ma's and Pa's. The bullion bankers are being trained more on the retirement funds in the middle of nowhere, and less on the hedge funds." This means more of the rising base of buyer interest is in the metal, rather than derivatives. Many of them apparently prefer to have their gold in vaults near where they are, Mr Smith's "middle of nowhere," rather than in LME or COMEX warehouse receipts. One indication of this, as he says, is the rising proportion of refiners and transport firms going to gold conferences. For example, the proportion of jewellers attending the London Bullion Market Association annual meeting has fallen from 16 per cent in 2000 to 6 per cent in 2008, while the proportion of transporters, refiners, security firms, and others involved in physical bullion movement has increased from 11 per cent to 18 per cent. Their customers "are not leveraged buyers, or buyers on margin,â€ as Mr Smith says. If one were only interested in getting exposure to gold at a low transaction cost and had no concern about capital controls or taxation, then derivatives, or tradable warehouse receipts, are much more efficient. This gradual change in investor preference is about an inchoate fear of one government or another getting between the investor and his money.

To: TobagoJack who wrote (57677)	11/10/2009 2:22:41 AM
From: Maurice Winn	2 Recommendations Read Replies (1) \| Respond to of 219534

I note that my prediction from nearly a year ago on gold price for 31 December 2009 is going to be spot on. <do you like gold at 1,100? > Mqurice

To: TobagoJack who wrote (57677)	11/10/2009 2:33:35 AM
From: Maurice Winn	1 Recommendation Read Replies (2) \| Respond to of 219534

On gold [among other things]: Message 26084866 <n a deflating economy anything that's truly of value to people will do well, and all the crap, like RE, will do what it should do. Nada. It adds no value. It's like idiot gold. Just sits there and fools and steals. That won't work when the inflation gun is out of bullets, the banks won't lend, and the 'crats wage war. So what stocks do well during deflation? Many Chinese companies. Plays like DIS, or pharmas, the stuff that's got a claim, that people want. What doesn't work? Commodities. All of them. So what is my evidence that the US is in deflation? Rising savings? High unemployment? Closed Temporary? Few buyers and lots of RE supply Well, how about prices at the supermarket that keep declining because they haven't yet found the marginal buyer? I like that one best. > Mqurice