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Outlook for gold

serenditpity

Alfrescian
Loyal
Currently gold is trading at $740/oz (26% below peak). It has belied investor expectations that it would be the right asset class in uncertainty having fallen like any other investment class.

Does anyone have a view of the short term (year end),medium term (1 year) and long term outlook for gold?

Thanks
 

halsey02

Alfrescian (Inf)
Asset
Currently gold is trading at $740/oz (26% below peak). It has belied investor expectations that it would be the right asset class in uncertainty having fallen like any other investment class.

Does anyone have a view of the short term (year end),medium term (1 year) and long term outlook for gold?

Thanks

Try talking to e leprechaun..ha ha ha:biggrin:, Gold will be a worthy investment in times like these, especially the physical ones. When all economies fail, gold will the currency not the paper ones. Either one transact by bartering or we use precious metals like gold. It will be a good year end buy, hold for some time.
 

jw5

Moderator
Moderator
Loyal
Try talking to e leprechaun..ha ha ha:biggrin:, Gold will be a worthy investment in times like these, especially the physical ones. When all economies fail, gold will the currency not the paper ones. Either one transact by bartering or we use precious metals like gold. It will be a good year end buy, hold for some time.
Do you actually buy physical gold bars? Or paper gold or gold etfs?
 

DOM the Clown

Alfrescian
Loyal
Rich people buy gold etfs. Poor people dig nose can already !!:eek:

i-shall-not-tolerate-such-rubbish-good-day-sir.jpg
 

middaydog

Alfrescian
Loyal
Try talking to e leprechaun..ha ha ha:biggrin:, Gold will be a worthy investment in times like these, especially the physical ones. When all economies fail, gold will the currency not the paper ones. Either one transact by bartering or we use precious metals like gold. It will be a good year end buy, hold for some time.

so ? you want to buy ?

Dear Sir,
We act as Mandated representatives to the Seller, with full corporate authority and responsibility, under penalty of perjury and fraud laws, have the pleasure to certify, represent, warrant and make an irrevocable firm commitment that we are ready, willing and able (RWA) to offer, sell and deliver Gold ingots (after refining from Gold dust), in a timely manner, under the terms specified and agreed upon hereunder:

1. PRODUCT :AU-METAL rough Gold in the form of bars (1kg) (after refining)

2. QUALITY :Bars or ingots of 999.50 % or better with Hallmark (after refining).

3. QUANTITY :40 METRIC TONS with R&E to 1,000 MT

4. DELIVERY :CIF Hong Kong (for the first tranche of 40 MT) and Subsequent
Tranches

5. PRICE :LME (LONDON METAL EXCHANGE), 2nd (afternoon) London
Fixing
 

chuckyworld

Alfrescian (Inf)
Asset
so ? you want to buy ?

Dear Sir,
We act as Mandated representatives to the Seller, with full corporate authority and responsibility, under penalty of perjury and fraud laws, have the pleasure to certify, represent, warrant and make an irrevocable firm commitment that we are ready, willing and able (RWA) to offer, sell and deliver Gold ingots (after refining from Gold dust), in a timely manner, under the terms specified and agreed upon hereunder:

1. PRODUCT :AU-METAL rough Gold in the form of bars (1kg) (after refining)

2. QUALITY :Bars or ingots of 999.50 % or better with Hallmark (after refining).

3. QUANTITY :40 METRIC TONS with R&E to 1,000 MT

4. DELIVERY :CIF Hong Kong (for the first tranche of 40 MT) and Subsequent
Tranches

5. PRICE :LME (LONDON METAL EXCHANGE), 2nd (afternoon) London
Fixing

What is the discount, is it by swiss procedure, where is the gold located, how old is the gold. is it hallmark and by whom.

SELLING AND BUYING GOLD
Forget the performance bonds, escrow and parallel accounts, the meaningless SGS certificate, Bank comfort letters, table top meetings, and the various attestations and protestations that the product is valid, that title is clear, that people are responsible and full faith, et cetera. GLD Gold is bought and sold by bullion banks through a bank bullion officer under what is called "Swiss Procedures." The Swiss Procedures are very simple and direct.


Good London Delivery Gold (GLD)

For Good London Delivery gold (GLD) the buying bullion banks pay immediately upon delivery. Title is retained by the seller until payment.

GLD gold is:

Usually 12.5 kg bars, (possibly 1 Kg bars and/or other forms) 999.5+ Au, with: London Metal Exchange (LME) accepted hallmark, and proper provenance. Presently held in custody with full responsibility by a London Metal Exchange accepted depository, who:certifies clean, clear title, and ships the Au under bond to the buyer's LME accepted depository at seller's cost.

All GLD gold is registered. GLD gold can be authenticated through secure banking channels by a bank's licensed bullion officer.

By banking definition, a Full Corporate Offer (FCO) for GLD gold contains the data that allows verification by a bank's bullion officer. The minimum required data is the complete certificate number(s) for the gold, the SKR(s) indicating the gold certificate numbers from a registered Secure Depository, or bullion officer details, name/number, and letter from seller authorizing buyer' officer to contact. The buyer/bullion officer will not authorize and/or sign any document until the GLD gold has been verified, as this is contrary to all bullion banks gold procedures. The buyer's representative will issue an FPA when the Full Corporate Offer has been verified. According to banking rules the buying bullion officer will not contact the selling bullion officer until he has written permission from the seller to do so, to do so would be considered solicitation.

All Other Gold

If the gold does not meet all of the above specifications it is not GLD gold.
For all non-GLD Gold, (former GLD (nominally 1 a/o 12.5 Kg bars), dory, gold dust, ingots, nuggets, etc.) the bullion banks pay immediately upon proof of what they are buying. Title is retained by the seller until payment.

Proof of what they are buying is accomplished by the seller delivering what he says is gold to designated airport closest to the buyer's designated refinery depository at seller's cost. The seller provides evidence of clean, clear title. The buyer arranges to pick up the gold by bonded courier ( e.g., Brink's) and transport to the refinery. The refinery depository refines the said-to-be-gold at the buyer's cost. The refinery depository refines the material, assays the metal melt, and issues its Au credit memorandum. Assay samples are retained. The refinery, seller, and buyer each agree as to the accuracy of the refinery's credit memorandum. The seller retains title until he is paid. He is paid immediately upon the refinery's issuance of their credit memorandum. The refined gold is later converted to GLD status and sent to the buying bullion bank by the buyer.
 
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chuckyworld

Alfrescian (Inf)
Asset
Currently gold is trading at $740/oz (26% below peak). It has belied investor expectations that it would be the right asset class in uncertainty having fallen like any other investment class.

Does anyone have a view of the short term (year end),medium term (1 year) and long term outlook for gold?

Thanks

It all depend on what you buying paper gold as in buying share from mining company is like all shares it is much more risky.

Gold bar are safe bet, gold chains, rings and such has already been premium so not worth it you paying for the design and most of it are 14 to 18 karats.

:confused::confused::confused:
 

scroobal

Alfrescian
Loyal
Currently gold is trading at $740/oz (26% below peak). It has belied investor expectations that it would be the right asset class in uncertainty having fallen like any other investment class.

Does anyone have a view of the short term (year end),medium term (1 year) and long term outlook for gold?

Thanks

Gold acts as an effective hedge for those who play with USD or USD denominated products. If you live in Singapore, transact mainly in local currency and other currencies like AUD, the complexities become very much uncontrollabe.

Gold price has a strong inverse correlation to the USD as it acts as the other alternative safe haven for value. The bulk of gold that influences pricing are in the hands of reserve banks and foreign reserves of countries who regularly convert between USD and Gold which ever carries higher value and these transactions are confidential.

Its the primary reason why gold is volatile over the long run compared to equities markets.

Gold should not be treated as savings instrument to be accumulated over time. Its movement should be monitored daily and to be bought and sold regularly. Unfortunately the perception of gold by the man in street is one of savings accumulation.

Personally, the same time in monitoring gold can be better spent in equities and property market where the ratchet effect is more perceptible than gold. Equities barring the occasional dislocation is assets accumulated over time and they always carry value.

This does not cover gold related stocks like mining company which are specualtive stocks where probability of the next gold strike drives price which canadians and australians know very well.

Banks have an interesting habit when it comes to Gold. When there is a sustained increase in price, gold and gold related products appear but they disappear when its starts to tank. Its for this reason some banks on ethical grounds don't go into Gold as they know it tends to mislead investor.

I know this does not answer your question but hopefully it points to something that might be useful.
 

neddy

Alfrescian (Inf)
Asset
The Paydirt conference had been worth attending.
Time to sell Gold is coming.
 
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wuqi256

Moderator - JB Section
Loyal
It all depend on what you buying paper gold as in buying share from mining company is like all shares it is much more risky.

Gold bar are safe bet, gold chains, rings and such has already been premium so not worth it you paying for the design and most of it are 14 to 18 karats.

:confused::confused::confused:

Gold coins are even better as they can be transacted more easily than gold bars. Especially coins like Canadian maple.
 

Thick Face Black Heart

Alfrescian (InfP)
Generous Asset
Mining companies are in a tough business. They face increasing production costs, political uncertainty when they secure mines in places like africa or mongolia, etc. That is why their PE ratio has come down over the last several years and gradually being shunned by investors who prefer physical or metal ETFs since these do not have company-specific risks.

Increasingly less and less reasons to invest in mining companies. They have been underperforming their underlying product severely.
 

kulgai

Alfrescian
Loyal
Currently gold is trading at $740/oz (26% below peak). It has belied investor expectations that it would be the right asset class in uncertainty having fallen like any other investment class.
Does anyone have a view of the short term (year end),medium term (1 year) and long term outlook for gold?
Thanks

I'm not sure where you get yr pricing from. I trade Loco London gold and is currently USD1640 per 100 oz.
IMHO, gold should hit a high of USD1,800 before year-end and possibly cross the USD2000 mark by next year (cant put a timeframe though)
 

Devil Within

Alfrescian (Inf)
Asset
When gold is down, good time to buy.

<iframe width="560" height="315" src="http://www.youtube.com/embed/yZPB50QtLqo" frameborder="0" allowfullscreen></iframe>
 

lifeafter41

Alfrescian (Inf)
Asset
Buying of physical god incurs a 7% GST in Singapore, will this be removed soon. I recall seeing an article that this will be so in Oct 2012. Can forummers help to confirm.?.
 
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