Possible default in December gold??

[bond tr4der]

I agree the chance of default is very unlikely.

 

[thriftybob]

Quote from jficquette:

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

Oh, I dunno that. I've got a few hundred k waiting on the sidelines that I might buy a couple bars with some of if it goes into $600's again.

Coins are pretty pricey anymore, even the plain jane stuff.

 

[MGJ]

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

Audio commentary: http://www.barbneal.com/wav/ltunes/yosemite/Sam57.wav

 

[MGJ]

We'll know in a few hours.

 

[thriftybob]

Gold would have been over $1000 by now if it was goinfg to default.

The thing to watch is how low the inventory avail for the next delivery gets, because once the sharks smell blood there will be a feeding frenzy.

 

[Anaconda]

Quote from thriftybob:

Gold would have been over $1000 by now if it was goinfg to default.

Not really, cause if there are significant defaults, why would anyone really bother with the paper contract?

 

[MONEY4NOTHING]

Quote from MONEY4NOTHING:

Looks like I bought the SA physical gold just in the nick of time Go Gold go...

Still holding all my gold...won't hurt in these conditions, I guess.

 

[thriftybob]

Still holding here, too... Until they stop printing money like it was paper...

I wonder how COMEX inventories are doing for Feb expiration?

 

[AMT4SWA]

Quote from thriftybob:

Still holding here, too... Until they stop printing money like it was paper...

I wonder how COMEX inventories are doing for Feb expiration?

As long as COMEX can still keep financially "convincing" people requesting physical to only take the cash out (enough of them each month), then they can keep the "game" going. I will say though, as the world financial grid takedown continues, the PRESSURE is all on COMEX.....their day is coming!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :eek: :eek:

 

[thriftybob]

Quote from AMT4SWA:

As long as COMEX can still keep financially "convincing" people requesting physical to only take the cash out (enough of them each month), then they can keep the "game" going. I will say though, as the world financial grid takedown continues, the PRESSURE is all on COMEX.....their day is coming!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :eek: :eek:

The lower their inventory gets, the crazier its going to get. Until the price is high enough that big sellers of real metal show up, I think the inventory will continue to drop. Gold usually seems to hit its highs for the year in March to May timeframe.