Gold Brutal Price Crash - The Final Liquidation of the Gold Bug

[phantom_opera]

cost can also escalate when the workers of major gold miners go on strike, kill the boss lol

anyway listen to Buffet, never buy anything that u are not familiar with, 5% portfolio is ok, 25% is a no-no

[Laguna]

Just finished reading the
Precious metals update- gold April 2013 by RBS Morgan

The cash cost ranges from 200 to 850
All in cost 590 to 1200

[hopeful]

just fyi, abn amro defaulted on their gold certificates from 1st april.
they are not going to deliver physical gold anymore, now is cash settled.

lucky UOB still have gold convertibility for certificate. Don't know when they will close the window. now have converted uob gold certificates to gold bars. and adding more 2kg since the big drop, will add somemore if price drop some more.

still cried a bit, but didnt people here like to quote Nathan Rothschild,""buy when there's blood on the street, including your own".

[sgbuyer]

cost can also escalate when the workers of major gold miners go on strike, kill the boss lol

anyway listen to Buffet, never buy anything that u are not familiar with, 5% portfolio is ok, 25% is a no-no

That was when business was good. Now gold price has crashed, the boss will just lock the gates to the gold mine and fly out of town.

[lajia]

there is also another saying....dont catch the knife when it is falling...
it might fall below 1000 soon...
just my opinion.

just fyi, abn amro defaulted on their gold certificates from 1st april.
they are not going to deliver physical gold anymore, now is cash settled.

lucky UOB still have gold convertibility for certificate. Don't know when they will close the window. now have converted uob gold certificates to gold bars. and adding more 2kg since the big drop, will add somemore if price drop some more.

still cried a bit, but didnt people here like to quote Nathan Rothschild,""buy when there's blood on the street, including your own".

[sgbuyer]

there is also another saying....dont catch the knife when it is falling...
it might fall below 1000 soon...
just my opinion.

I suspect some banks got huge derivative paper position in gold.

[lajia]

Mkt up or down, they have great influence....take the cue from them might be too late, u need to be ahead of them.

I suspect some banks got huge derivative paper position in gold.

[hopeful]

have anyone seen on bloomberg where the president of the chinese gold and silver exchange interviewed?
they almost run out of gold bullion and have to wait till wednesday for new shipments.
now i know why when i buy from uob this time, i get swiss gold bar instead of the usual indonesian gold bar (antam gold).

[Shanhz]

All hail the mighty greenback. Now gold, oil, euro, yen fall to its knee. Some country must be very nervous now after Boston explosion. The American is going to get u.

If eveything falls, something has to go up. The big players need to put their money somewhere. Equity?

[Shanhz]

Production cost is now $1200 per once. If hit $900, of course can buy lah.

Similarly, production cost of condo is S$250 psf. If price drops to S$200, of course can buy lah!

How do we know the production cost?

[Shanhz]

just came back from UOB Bank.
The queue is so long, they still have 100g, 1kg, etc. But refuse to distribute the usual price list. You will only know the price when it is your turn.
With this kind of speed, physical gold for 100g will likely be sold out, and you will need to wait for 3 months for them to restock. By then the price will be different.
This happened during the finanicial crisis time.

Thanks,
Richard

Was there on friday. Longer than two hr q. Two weeks ago, i could walk in and buy gold within 5 minutes.

There were some private transactions going on in the closed rooms. I saw many workers wheeling out suitcases of heavy stuff. No guesses whats inside.

Anyway i hv always been long gold. I will buy a coin or two every now and then.

[minority]

Was there on friday. Longer than two hr q. Two weeks ago, i could walk in and buy gold within 5 minutes.

Anyway i hv always been long gold. I will buy a coin or two every now and then.

If pass through airport T3 UOB counter might see less Q. But at 1200 per oz then I will touch.

[Rosy]

If eveything falls, something has to go up. The big players need to put their money somewhere. Equity?

this question is very late.

[Rosy]

If pass through airport T3 UOB counter might see less Q. But at 1200 per oz then I will touch.

watch out for dow jones.

I will buy some more gold when dow shows weakness.

[Rosy]

Was there on friday. Longer than two hr q. Two weeks ago, i could walk in and buy gold within 5 minutes.

There were some private transactions going on in the closed rooms. I saw many workers wheeling out suitcases of heavy stuff. No guesses whats inside.

Anyway i hv always been long gold. I will buy a coin or two every now and then.

Some Chinatown goldsmith like poh heng was very crowded. Seemingly china buyers buying with cash.

retail demand for gold is REAL globally. Silver too.

[kane]

wah, suddenly everyone rushing to buy gold.