Those who frequent the precious metal forum www.silverstackers.com
will know the name goldpelican, who is the forum administrator as well as one of the guys behind http://www.goldstackers.com.au/store
. Well he has just started a blog called Five Metals
and his first post
is on a favourite topic of mine - excessive coin premiums. Worth adding to your blog reading list.
The chart below from WSJ via Zero Hedge shows a complete lack of consensus amongst banks as to gold's future direction. That may translate into a sideways market as participants compete on their view.
Thankfully there doesn't seem to be many forecasting prices below $1000.
Steven Saville made a good point about gold futures and arbitrage in this blog post
, noting that:
Strangely, many gold ‘experts’ assert that gold is different due to its dominant monetary and store-of-value roles, but then insist on applying a traditional commodity-style method of supply-demand analysis.
Yep, it doesn't make sense to treat gold the same as a commodity like orange
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