Possible default in December gold??

Debaser82 · Dec 14, 2008

Quote from scriabinop23:
I am bullish gold and silver here for obvious structural reasons, but god these gold nuts are something else. Between stuff like this and their biblical quotes... [/B]

lol

Give them some credit will ya? Last week gold was about the only asset class in the world up year to date?

MGJ · Dec 23, 2008

Last Trading Day=12/29
Last Delivery Day=12/31
If it's going to explode in a supernova, there's not a lot of time left.

http://www.nymex.com/gol_fut_termin.aspx

spersky · Dec 23, 2008

Quote from MGJ:

Last Trading Day=12/29
Last Delivery Day=12/31
If it's going to explode in a supernova, there's not a lot of time left.

http://www.nymex.com/gol_fut_termin.aspx

LOL you have to be kidding

scriabinop23 · Dec 23, 2008

Quote from spersky:

LOL you have to be kidding

The gold bugs:
Guntoting, armageddon-planning, Libertarian, Austrian econ hype hoodwinked, religious... stupid, and each one usually unable to avoid being the cliche.

All of that aside, gold and silver are relatively strong compared to all of these other commodity markets, and it will be interesting to see if it holds. Not a bad diversification tool regardless.

turdlehead · Dec 23, 2008

Quote from MGJ:

Last Trading Day=12/29
Last Delivery Day=12/31
If it's going to explode in a supernova, there's not a lot of time left.

http://www.nymex.com/gol_fut_termin.aspx

Quote from spersky:

LOL you have to be kidding

spersky may be suggesting that a calendar week is a llloonnngg time
remaining for this to unfold, or not.

thriftybob · Dec 23, 2008

I think the odds of a default on Dec gold are about nil.

I also think the amount of metal available to deliver will keep declining as foreigners keep trading some of the excess US dollars we send them for metal and those with metal to sell balk at selling it.

Will it have an effect? Sure, eventually. Next week? Not, IMO.

thriftybob · Dec 24, 2008

They are forecasting a 40 to 50% decline in the dollar as a result and are suggesting Japan should write off the debt.

bond tr4der · Dec 25, 2008

So did December gold default?

thriftybob · Dec 25, 2008

I believe it has a few days left to go, so I don't think its over yet, but I don't see any probability it will default. The last I heard about 40% of the COMEX gold was requested to be delivered in Dec.

jficquette · Dec 25, 2008

Quote from thriftybob:

I believe it has a few days left to go, so I don't think its over yet, but I don't see any probability it will default. The last I heard about 40% of the COMEX gold was requested to be delivered in Dec.

I think the only people wanting delivery are the ones who make the gold coins lol.