Comments on: Is Gold Now a Speculative Play Instead of a Safe Haven?

By: Jeb Sloan

Jeb Sloan — Mon, 07 Dec 2009 21:23:25 +0000

There’s one minor issue that’s been omitted from ALL the commentary on this Dubai phenomenon — if I’m not mistaken, Dubai is a huge international gold trading center — almost a “gold laundering” center? — so, naturally, if they were to experience credit problems, one can imagine the first thing to go would be those useless piles of gold in the back rooms. In fact, THEY probably sold enough gold ON THANKSGIVING when the U.S. Market was closed (co-inky-dink), to drive the price down all by themselves. Now, why that would cause anyone else to sell, I have no idea…

By: Ric

Ric — Thu, 03 Dec 2009 21:49:08 +0000

Ha, ha, you make me laugh. Right, flee to the dollar backed by a government that has 12,079,989,650,500 in debt. Nice try.

By: Sparkie

*Sparkie* — Thu, 03 Dec 2009 18:46:11 +0000

Right on bout GB! U 4got bout Hannity.

By: j. sanchez

j. sanchez — Thu, 03 Dec 2009 17:06:45 +0000

Yeah, where is the great Mogambo Guru??
I am in need of the bunker mentality!!!

By: Bors

Bors — Thu, 03 Dec 2009 15:45:43 +0000

Of course it is speculative and also manipulated. We at least know where some of it is being kept under some peoples beds. Easy to get to that way.

By: Alterity

Alterity — Thu, 03 Dec 2009 07:41:20 +0000

I’d rather have gold under my bed than US dollars whose value is sinking faster than the Titanic did. And I don’t think i’m alone…

By: Parcival

Parcival — Thu, 03 Dec 2009 05:41:51 +0000

When was gold not a speculative play? We speculate on inflation. We speculate on a currency collapse. And some speculate on momentum.

The question is not whether god is speculative. It is. Food isn’t speculative, you will need to eat tomorrow.

Where will gold go in a short term panic? Depends on the panic doesn’t it?

By: zippythepinhead

zippythepinhead — Thu, 03 Dec 2009 05:31:14 +0000

If that was a dollar rally then I want nothing to do with it. What was that 5 basis points? Gold got hammered down 38 rallied back to close down 13 while the dollar rolled back over. Safe haven status has been damaged badly, one more act like that and the dollar I’m afraid will head way lower. I’ll stick with the metal thank you.

By: CanadaNorth

CanadaNorth — Thu, 03 Dec 2009 04:25:46 +0000

CanadaNorth

Thanks Rocky, but there are some people worried about Richard, Richard if you are out there and well enough to raise a finger…., well we are worried about you that’s for sure. Anyway, just say Hello if you are able. Best Regards, CanadaNorth

By: emo

emo — Thu, 03 Dec 2009 02:39:31 +0000

Rocky,

You’re doing good work. Keep it up.

***But the real question is:

Where is the Mogambo Guru?!