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Thread: Gold (and Precious Metals)

  1. #81
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    Futires contracts are never settled on an opening price ... from my experience settlement is a contract specified date (official close).

    The second Monday of the contract month. The last trading day will be postponed to the next business day if the second Monday is an HKMEx holiday.
    HKMEx USD Gold Futures Contract
    Its My Life .....!

  2. #82
    Super Moderator LivinLOS's Avatar
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    Yes but the whole exchange is closing.

    They are refusing metal delivery and forcing cash settlement. At what price tho.

  3. #83
    Senior Member geir's Avatar
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    If I sold the guesthouse I'm still thinking of buying a "block" of gold and sit on it.....Strong TBH and lowish gold price would make it a good time to buy??
    I have no clue about markets, but what do you traders think??

  4. #84
    Senior Member geir's Avatar
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    Hmmm. sorry for sound like a Hasher there,,,"buy a block and sit on it" 555
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  5. #85
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    Quote Originally Posted by geir View Post
    I have no clue about markets, but what do you traders think??
    Do not trade/invest in what you have no clue about!!
    Its My Life .....!

  6. #86
    Senior Member geir's Avatar
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    well, I would have made 10% profit in less than 1 month if I did it last time we spoke about it.......

  7. #87
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    You could double your money on red/black at a casino - doesnt mean its a sound stratagy!

    More seriously though - if you wanted to 'play' with 10-20% of your money 'trading' then as long as you can live the downside risk then why not; your financial thoughts are more sound than most of the w@nkers on Wall Street!!
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  8. #88
    Senior Member Dodger's Avatar
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    Quote Originally Posted by geir View Post
    Hmmm. sorry for sound like a Hasher there,,,"buy a block and sit on it" 555
    Damn you Geir was just posting the same thing!!!5555

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  11. #91
    Super Moderator LivinLOS's Avatar
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    Bit tin foil but..

    US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS ? IN WRITING ? IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SEIZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

    According to in-house memos now circulating, the DHS has issued orders to banks across America which announce to them that “under the Patriot Act” the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, to make “periodic and unannounced” visits to any bank to open and inspect the contents of “selected safe deposit boxes.”

    Further, the DHS “shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence” any of the following items “bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature.”

  12. #92
    Senior Member faultytowers's Avatar
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    Sound a bit like this one .

    The Department of Homeland Security is secretly putting restrictions on what customers can remove from safe deposit boxes in case of "national disaster"
    snopes.com: Safe Deposit Box Restrictions

    But there again , no doubt people felt their money was safe in Greek banks and that they would be able to withdraw all of their own money whenever they wanted to !

  13. #93
    Super Moderator LivinLOS's Avatar
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    bSure but when you put your money into a bank, and accept yield, your accepting risk in return for that.. In fact bank deposits are unsecured liabilities of banks so your even low on the chain in case of a problem.

    But when you rent a safe deposit box, your paying them to store your assets.. For them to be subject to warrantless seizure with no criminal evidence strikes me as pushing the limits beyond any justifications.

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  15. #95
    Super Moderator LivinLOS's Avatar
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    No but I only just saw it.. I would have wanted safe deposit boxes, when theres no issue of a crime, to be sacrosanct.

  16. #96
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    Even for black money?

    Methinks those days are going, going ...

    They got the mighty Al Capone only because of tax charges
    Last edited by Evilbaz; 27th May 2013 at 20:21.

  17. #97
    Super Moderator LivinLOS's Avatar
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    Quote Originally Posted by Evilbaz View Post
    Even for black money?

    Methinks those days are going, going ...

    They got the mighty Al Capone only because of tax charges
    Ifs they have evidence or suspicion of criminality, then use a warrant and charge them..

    This is warrantless seizure.

  18. #98
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    Executive Order 6102

    Could happen again anytime soon if the currency collapses?

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  20. #100
    Super Moderator LivinLOS's Avatar
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    Quote Originally Posted by marc26 View Post
    obviously you have a more hands on viewpoint

    but from everything i was reading, physical buying was off sharply from when people came in buying tons of physical after the fall-off
    hence the reason for the slide back down
    Just to update some real world stats..

    April was 300% up sales volume month on month.
    May is up another 200% MoM.

    We are shifting 600% more sales volume in 2 months since the paper smackdown.. Rather than any slowdown we are seeing the opposite, an acceleration into allocated physical.

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