Comments

  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    That's ok because I'm shrill buying Gold.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    "Shrill" buying … is that buying at a high pitch? >:)
  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
    edited November 2016
    @79Au197 Well that is rather surprising and a little depressing to read. Thanks for sharing @79Au197

    Strange to see such an opposite view on gold versus the below.

    Volumes have surged across the world, from exchange-traded funds and futures, to Mumbai jewelry stores and Dubai souks since it became clear that the Republican candidate would move to the White House.

    http://www.bloomberg.com/news/articles/2016-11-09/gold-seller-running-out-of-bars-coins-in-london-after-trump-win
  • GoldmattersGoldmatters Posts: 4,069 Admin
    edited November 2016
    So Druckenmiller bought gold in the first place because.....?

    All the reasons he owned gold have gone away?

    Really?

    Has the historic indebtedness of the world gone away?

    Has NIRP gone away?

    Have the unfunded liabilities gone away?

    The money supply suddenly been reduced?

    Have the physics of gold changed so that it is no longer money?

    Did Druckenmiller buy "gold" because of a fear trade?

    Maybe he just doesn't understand gold.

    Maybe those of us here do.

  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
    @GoldMatters I find it crazy he would do that. Maybe he is bored and just wants to start playing in the markets again. Who knows what he see's that we don't. I find everything that has happened this week a little crazy. Everyone calling for $1400-$1500 gold if Trump wins and Trump wins and gold moves the opposite direction. What a confusing week.
  • GoldmattersGoldmatters Posts: 4,069 Admin
    edited November 2016
    Agreed GMH @GoldIsCurrency it most certainly been a confusing week.

    I just think he's wrong. Or like you say making some kind of short term trade.

    I would venture say that the average community member understands gold better than Druckenmiller. Just because he has been a successful investor doesn't mean he understands gold.

  • Rj838Rj838 Posts: 217 Bronze ✭✭✭
    @GoldMatters , @79Au197 @GoldIsCurrency ,

    Very confusing indeed, dunno whether to buy or sell.. :/
  • GoldmattersGoldmatters Posts: 4,069 Admin
    @Rj838 It depends on your reason for owning gold in the first place. Let my pose a question GHM... For what reason would you sell?
  • Rj838Rj838 Posts: 217 Bronze ✭✭✭
    @GoldMatters,

    My reason primarily to escape the volatile instability of fiat paper currency, and protect my savings via a constant sustained stable means.

    re- your Q; I would sell to protect my savings from the fall its witnessing with gold prices..

    Confusing..!!! :s
  • GoldmattersGoldmatters Posts: 4,069 Admin
    @Rj838 I think its important to keep time frames in perspective GMH. Of course no one enjoys seeing their balance declining in value. The reality is though that your local currency is constantly losing value over time. The difference is that we dont have a daily reminder of this in our checking accounts. It looks like the value is constant.

    One way to see how it is not constant is when you get your weekly groceries. Notice the shrinkflation that is occurring. It seems as though every time we see the quantities of normal items gets smaller (like cereal, or yogurt, or potato chips etc) but the price remains the same.

    Rest assured that although the short term drops in the gold price are certainly not pleasant to watch over time it is proven to be the most stable currency.

    If you were to keep your funds in 'cash' in a checking or savings account, you might not be able to see the fluxucation in value, but you can be certain that over time the value would be almost completely eroded.


  • MurphyMurphy Posts: 100 Bronze ✭✭✭
    I think he's talking his book. As far as I could tell he sold his gld positions late July or early august and if he bought in December or January then thats over a 30% gain in 7 or 8 months. He is known for making 30% returns for 30 years straight. So i think he took his profits as a professional would and now is doing his part to talk gold down and to reload. I wouldn't be surprised to hear him admit later that there is a position for gold in every portfolio and he has re-bought maybe not his original 300 million position but some gold.

    Selling his gold positions the night of the election seems like an outright non truth. Wish I could link a site to where i read he sold his positions but it was the same article or around same time as Soros was selling most of his mining positions except for some barrick.
  • GoldmattersGoldmatters Posts: 4,069 Admin
    Also remember, some of these guys privately own physical gold positions... they just dont talk about it.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
    Yeah it is appearing that Druckenmiller is somewhat of a trader. Might not be long and he could be re-entering gold.


  • RocketDogRocketDog Posts: 823 Silver ✭✭✭✭
    I agree that I think Trump will be good for business. At least I am hoping he will. But he is talking tax cuts, and major spending on infrastructure. Overall his budget has us spending more or the same as current. Also he has talked about investors in US bonds having to "take a hair cut" on the debt (restructuring). There will still be a lot of printing of cash and a lot of uncertainty in his term. And even though I think the uncertainty can end up good in the long run, I still think there is a lot of reasons to hold gold.
    Further, even though the USA seems to be in its own gold-value fantasy land, you still have large portions of the rest of the world turning to gold as a major currency and as a hedge against their problems.
    I just bought a bunch more and am confident in my long-term outlook.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    I just read the following comment from James Rickards suggesting it was Druckenmiller that whacked the gold market port election …

    "We expected a stock reversal, but we did not expect a gold reversal. We expected gold to hold onto its post-Trump gains. The “Druckenmiller Dump” put an end to the rally. The decline in gold continued into the following day, Nov. 10. That action was based on a change in sentiment and “me too” sales by weak hands who were piggybacking on Druckenmiller all along."

  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
    edited November 2016
    @79Au197 A case of an elite using their fame in the investment world to change the sentiment along with serious dumping of gold to change the direction. Wouldn't surprise me to see him come out a number of months down the road and say he changed his mind and has gone back heavy into gold. What has really changed?
  • aleithiaaleithia Posts: 6 Tin ✭
    hey so just curious...new to the whole world of gold....I did recently open account here and slowly accumulating, but I know gold can be volatile, commodity, controversial. I know some people (not me) who have put all assets like savings and retirement into physical gold that they are holding at home, in anticipation of the dollar becoming worthless in next 2 years or so...they've been reading authors of "aftershock investing. Wondered what some people's thought were here. ive read it but agree/disagree with the approach...ie putting assets into gold for now .....im definetly not doing that but am just parking miscellaneous savings here for time being.....any advice, suggestion on gold in general period would be great...not sure if will do longterm or for now.... I know buy low sell high.
  • GoldmattersGoldmatters Posts: 4,069 Admin
    edited November 2016
    @aleithia I think, and would believe many of the account holders on here would agree that putting some of your savings into gold is a good idea. Most countries around the world wouldn't consider this very controversial.

    I wouldn't be so concerned about "buying low and selling high," I never really understood what that means. How can we ever know what is low, and what is high? Apple stock at $1 is low relative to $100. While Apple at $100 is low relative to $1000. Its more about valuation than an actual number for equities.

    The fact that you are here, is a great sign. It shows that you are smart and interested in an alternative to traditional ways to save your money.

    For gold, it makes the most sense to think of your holdings as savings. Whichever portion of your savings, or "stored labor" you want to maintain its purchasing power (and this is the important part------------> OVER TIME) should be kept in gold. Gold (and any currency) can be volatile in the short term. It is over long periods of time that it always works. Just look at the data. A good place to start would be @Josh 's article about "Back to the future" and the Big Mac.

    We don't need fear or greed to allocate savings to gold.

    Just facts.

  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭

    @79Au197 A case of an elite using their fame in the investment world to change the sentiment along with serious dumping of gold to change the direction. Wouldn't surprise me to see him come out a number of months down the road and say he changed his mind and has gone back heavy into gold. What has really changed?


    lmao. I saw that coming.

    Appears as though Stanley Druckenmiller pulled a fast eddy head fake on everyone. He sold his gold in November and was back in buying December and January.... yup.

    Stanley Druckenmiller seems poised to make a killing on gold
    http://www.marketwatch.com/story/stanley-druckenmiller-seems-poised-to-make-a-killing-on-gold-2017-02-08
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