streetTRACKS Gold Shares (GLD)

All Comments on GLD

  • commenter
    daveddawg
    Sep 06 05:13 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    James Conrad, Tradertom, Philman,Ag,and others have really done a good job here. Rob Kirby says it is the Fed through JP Morgan who is doing the shorting. They will (IMHO) start covering on Monday. Maybe NYMEX will open a special session for them on Sunday? Note bond action on FRI, yield was up quite a bit, so the price of the bonds went down. Do they know something we don't? Also note the FRE FNM bailout announced Fri. Seems to me the FED is going to need a lot of money in a hurry. Maybe they knew they would need a lot of money soon, so they shorted the only physical thing they have. So they cover their shorts, make a lot of money, and pump it into FRE FNM. No matter what, they will start the printing presses again, and KING dollar will start going down. Because the dollar is going down, oil will go up, as will other commodities. Our dollars will be worth less because we will not raise the taxes to actually pay our debts. We will just send the bill to our grandchildren. Reply
  • commenter
    watertanker
    Sep 06 03:46 PM
    A 360 View of Returns (July 2008) [view article]
    job well done and very easy to follow Reply
  • commenter
    asleeper
    Sep 06 02:48 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    The SLV Prospectus mentioned a way to redeem shares for physical silver, I think (I didn't save it). Does anyone recall how to do it: where the silver must be picked up, what amounts can be redeemed? Has anyone tried redeeming their shares? Reply
  • commenter
    philman
    Sep 06 02:07 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Wouldn't it be great to force the COMEX to convert from a fantasy futures market, to a real physical delivery market! I'd love to buy 1,000 ounce bars! Reply
  • commenter
    philman
    Sep 06 02:04 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Oh, and, did I forget to say, in capital letters, THANKS FOR THE EXCELLENT INFORMATION YOU ARE PROVIDING!! Reply
  • commenter
    philman
    Sep 06 02:03 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Tradertom, how do I know how much I am really getting? Who weighs the bars? Do I weigh the bars? Reply
  • commenter
    Ag Enemy of
    the State
    Sep 06 01:47 PM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Thank You Trader Tom. I am interested. The basis(spread) in silver is just too large not to take advantage of, especially if these low prices persist for the next two weeks. I also don't understand why the refiners are not taking delivery if they are able to sell at such a large premium. I will have to find out how liquid 1000 oz bars are (never see them on e-bay) and some dealers might pay less, I have left a couple of messages to confirm....but even if 5000 oz. physical sold at $1.50 over spot (to be conservative) and adding triple estimate for delivery cost yields over $5000 in profit per contract is possible.. I have also noticed that even though the price has recently dropped from around $13 to $12 per oz. this just increased basis...as the physical price remained the same...I cannot believe this...but I am hoping for even lower prices...at least for two weeks...You can e-mail me at searchnmn@yahoo.com so I can give you my number to discuss this further if you wish. Thanks again Reply
  • commenter
    BxCapricorn
    Sep 06 12:43 PM
    Why Commodities May Be Nearing a Turning Point [view article]
    I just feel sorry for Jim Rogers, George Soros and Ken Heebner. Those poor misguided fools. Why didn't they just follow Bill Miller's lead? Reply
  • commenter
    User 256772
    Sep 06 11:43 AM
    Fannie/Freddie’s Insolvency and Gold’s Immediate Outlook [view article]
    Absolutely brilliant! I'm reading this in September 2008 and it's more relevent now.

    Furthermore Iwould like to promote my Obama tattoos at obamatattoos.com where you can get quality Obama Temporary Tattoos that are made in the USA. Hurry over while supplies last to get yours!     Reply
  • commenter
    tradertom
    Sep 06 11:21 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    The silver contract is 5000 oz, thus you would have to purchase 5-1000 oz bars as a minimum. This is probably why people do not take delivery as most cannot buy this large quantity. I don't understand why the refiners are not taking delivery if they are able to sell at such a large premium. Reply
  • commenter
    tradertom
    Sep 06 11:15 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    Philman, You are right, the bar(s) you get may be slightly more or less than 1000 oz, but you do not have to pay for the amount less than 5000 oz that would be delivered, or if you get a bit more, you would have to come up with a bit more money. As far as pouring your own 100 oz bars, I don't think this would work as most investors prefer a name brand bar and would not know if the center of your bars were silver or lead without an expensive assay. The Ebay idea may be the better idea, and several places I have contacted are trying to sell 1000 oz bars at 3 dollars over spot or so.

    Ag Enemy, You would be receiving 1000 (approx) oz bars if you take delivery from the Comex. You needn't worry about a default anytime soon as they have about 137 million ounces currently stored. Delivery would be to a New York bank where you could pick it up, or have it delivered to you by probably Brinks. I would think that if you could sell 1000 oz bars at 3 over spot that there would be money to be made. There are some miscellaneous delivery charges and Brinks would obviously charge to deliver. I will check Monday to see If I can get a ballpark figure for all charges and let you know. I have been a futures broker for 15 years and have never had a customer take physical delivery, but will look into it if you are interested.     Reply
  • commenter
    messy
    Sep 06 11:01 AM
    Wall Street Breakfast: Must-Know News [view article]
    Wish we would see articles on strikes affecting ....POT...SID....By the United steel workers that are on strike. The only thing I read about is problems online by J.P. MORGAN with Potash company, and Del Rio and Sid,,,,,Brazil steel company in fight over mining rights. Reply
  • commenter
    Managing
    Editor
    Sep 06 10:06 AM
    My Website
    Is Gold Getting Ready to Bounce? [view article]
    One might say, on a comparative basis at least, that GLD has ALREADY bounced. The price ratio of GLD shares versus GDX shares hit a record high 2.4-to-1 this week.

    That's certainly not what option guru Larry McMillan wanted when he recently recommended a December spread pitting long GDX calls against long GLD puts (details of the trade are outlined in the Hard Assets Investor artcile "Options As A Golden Opportunity," (www.hardassetsinvestor...).

    At last look, the spread was bid at $12.50, down from the $16 limit Larry proposed as a buy point.

    There's still, time, of course, for the spread to work out. The options expire December 19.     Reply
  • commenter
    gollwoods22
    Sep 06 09:02 AM
    Gold Futures' Dirty Secret (Part II) [view article]
    why is gold not available in physical form? because it is worth more than bid. how simple is that? i have a truck worth $6000 if you want to buy it for $5000 it is not available i'll keep it and wait for a better offer. Reply
  • commenter
    philman
    Sep 06 07:03 AM
    Precious Metals Manipulation: Lawyers Prepare for Battle [view article]
    As far as I know, the futures markets only deal in 1,000 ounce bars, not 100 ounce bars. And, it seems like they are allowed to short you by up to 50 ounces, because the COMEX contract defines "good delivery bars" as being either 5% more or less than 1,000 ounces. That, of course, is cheating since it is very easy to be accurate when pouring a bar. Another reason why the futures price is B.S. But, anyway, assuming they short you by 5%, you still pay only about 62 cents extra, if the price per ounce is "officially" $12.26 on the COMEX. Then, there is another "time premium" because silver is in contango. That means that future delivery is worth more than getting the product now. By the time you finish with all the premiums (and commissions), I think the final price would be about $12.90 when the spot price is supposed to be $12.26 per ounce. But, if you can sell the bars for $1.50 over spot on EBay, then you can pocket about 65 cents per ounce, even after you've paid all the premiums and been cheated of 5% of the silver you supposedly bought.

    Here's my idea. Are there any metallurgists out there? Someone trained in metallurgy could easily melt down the 1,000 ounce bars, and repour them into 100 ounce bars. Seems like the business opportunity of a lifetime, now that Johnson Matthey is ignoring the retail market.

    Another business idea I have is selling 1,000 ounce bars on EBay. Obviously, I'm not going to get away with cheating my customers of 5% of their silver, like they will be cheating me, at the COMEX fantasy futures exchange. However, even when I factor this hidden cheat in, I can still make decent money by buying futures, and then selling the product on EBay.

    Once silver prices start soaring again, I'll have to stop because I won't know when they will collapse them again, and I could lose money in the interim. But, so what? Whenever the crooks collapse the price, I can go back into business, again! You can sort of feel when they've sucked out all the juice they can, mostly by observing when the weak handed speculators on COMEX have all been chased out of the market, like now.

    Are there any entrepreneurial metallurgists out there?     Reply
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