Get out of dollars. That makes sense. But in practical terms we have dollar assets in places like IRA/401k where you can't buy gold. The best we can do is buy ETF's like GLD. ETF's are not the best, but the reality that is the only option available for many. Given this unfortunate reality, which of the ETF's provide the least risk ?
In the UK SIPP some administrators will permit it through agreed storage arrangements with certain providers. Sharps Pixley has agreements with several SIPP administrators.
In the US there is something called a Self-Directed IRA. Google Precious Metals IRA. You can rollover from a traditional or Roth into a Precious Metals IRA account with a financial custodian of your choice.
Big caveat though.....although it affects all bank/brokerage/financial instutions so your current accounts are in the same situation. Federal Law called the Universal Commercial Code - watch Alasdair's post dated Jan31 titled LISTEN TO THIS CLOSELY for details.
DAN - Are you in the USA ..?? - As like Michael has noted , I've heard that there are various firms ( like Miles Franklin ) who can help you get Physical Gold ' via your IRA - and that very often the IRA providers / managers will actually fob you off with mis-information or just outright lie to you to keep you out of ' The Real Stuff '
Great interview. I am struggling a little with the lingo - what is meant by gold being "overbought" and/or "oversold"?
I've beenlooking at various sites and the best explanation I could find was:
"Overboughtness is a measure of how far and fast prices run compared to some underlying baseline. An ideal one is prices' trailing 200-day moving averages".
In that case, how does "overboughtness" differ from a price break-out, especially when the price has been artificially held down?
There are various measures of overbought and oversold, and determinining them is not an exact science. With respect to Comex, I look at the net long position of the managed money category, which is mainly hedge funds. When the numbers show them to be bullish as a group, that is a market which is overbought and vulnerable to a correction. The opposite is true for oversold conditions.
So if I understand you correctly, you assess the condition of "overbought" as a price distortion created by the managed money/hedge funds driving the price up due to their collective volume of "demand". One should expect a correction of price downwards of sorts to a legitimate price level. By comparison a price break-out is reflective of fundamental market conditions of sustainable growing/ongoing demand.
(The opposite of being "oversold" would be a price distortion downwards that one could expect to correct back up.)
If one wants to purchase gold it might be advisable to pause if the assessment is "overbought" for a possible correction, or "go for it" if "oversold" and make hay while the sun shines! ?
Where did this guy come from. Very interesting info on what Boris et al have done to us vis a vis Ukraine financially. Is this why October is looking so prominent for something bad to happen. Is this what others are warning of when they say the BoE is coming for savers money. Sinister stuff indeed. Would be very good to hear what Alasdair has to say about it
Get out of dollars. That makes sense. But in practical terms we have dollar assets in places like IRA/401k where you can't buy gold. The best we can do is buy ETF's like GLD. ETF's are not the best, but the reality that is the only option available for many. Given this unfortunate reality, which of the ETF's provide the least risk ?
Is that true? I always heard from interview like Miles Franklin that you can use IRA to buy physical gold
In the UK SIPP some administrators will permit it through agreed storage arrangements with certain providers. Sharps Pixley has agreements with several SIPP administrators.
In the US there is something called a Self-Directed IRA. Google Precious Metals IRA. You can rollover from a traditional or Roth into a Precious Metals IRA account with a financial custodian of your choice.
Big caveat though.....although it affects all bank/brokerage/financial instutions so your current accounts are in the same situation. Federal Law called the Universal Commercial Code - watch Alasdair's post dated Jan31 titled LISTEN TO THIS CLOSELY for details.
DAN - Are you in the USA ..?? - As like Michael has noted , I've heard that there are various firms ( like Miles Franklin ) who can help you get Physical Gold ' via your IRA - and that very often the IRA providers / managers will actually fob you off with mis-information or just outright lie to you to keep you out of ' The Real Stuff '
Good evening Alasdair,
Great interview. I am struggling a little with the lingo - what is meant by gold being "overbought" and/or "oversold"?
I've beenlooking at various sites and the best explanation I could find was:
"Overboughtness is a measure of how far and fast prices run compared to some underlying baseline. An ideal one is prices' trailing 200-day moving averages".
In that case, how does "overboughtness" differ from a price break-out, especially when the price has been artificially held down?
There are various measures of overbought and oversold, and determinining them is not an exact science. With respect to Comex, I look at the net long position of the managed money category, which is mainly hedge funds. When the numbers show them to be bullish as a group, that is a market which is overbought and vulnerable to a correction. The opposite is true for oversold conditions.
Thanks - that helps.
So if I understand you correctly, you assess the condition of "overbought" as a price distortion created by the managed money/hedge funds driving the price up due to their collective volume of "demand". One should expect a correction of price downwards of sorts to a legitimate price level. By comparison a price break-out is reflective of fundamental market conditions of sustainable growing/ongoing demand.
(The opposite of being "oversold" would be a price distortion downwards that one could expect to correct back up.)
If one wants to purchase gold it might be advisable to pause if the assessment is "overbought" for a possible correction, or "go for it" if "oversold" and make hay while the sun shines! ?
Wow. Check this out, if you please. https://www.youtube.com/watch?v=yynXt6T3gdw&t=2686s
Where did this guy come from. Very interesting info on what Boris et al have done to us vis a vis Ukraine financially. Is this why October is looking so prominent for something bad to happen. Is this what others are warning of when they say the BoE is coming for savers money. Sinister stuff indeed. Would be very good to hear what Alasdair has to say about it