Congrats on that long in Gold as it is working out nicely for you. I just wanted to comment on one post you got regarding gold about insiders and what they were doing. Buffet buying gold in 1997 where the high price for the year was 482 is hardly a sign of an insider telling you to buy it now. Gates, reportedly buying gold? I do not know about that or what his track record in this area is. He is not known for being a genius investor, just a genius in software.
If you truly want to follow the insiders in commodities, study the COT (Commitment of Traders) report. This is published weekly, and reports the positions held by 3 groups. The Commercials ( the real insiders ), Large Speculators ( people like me ), and Small Speculators ( individual investors ).
The Commercials are the actual producers of the commodity itself, and hence have the best record of being correct about price direction. In general, they tend to be on the short side as they hedge their bets on price fluctuations on what they actually produce and sell. They are the true insiders, not just a few big name individual investors. Follow them and you will get the best read on where things are likely going in the next few months to a year.
Just to give you one example of recent activity. The Commercials were heavy buyers on the dip in gold in March when the week closed 3/17 the price was at $560.20. This told us the true insiders were betting on a price rise, and off she went. You will see this over and over again with these reports. Presently they have a position that is in the middle, not bullish or bearish.
Oil. On 4/17 when the price closed at $75.17 the Commercials had gotten heavily short Oil, and this past week you saw a nice selloff there. This is no coincidence, and just a couple of examples of how to really watch the insiders.
Sorry, off topic. I did not recally where in the past I saw that reply to your topic, so I did not know where to go to give you this.
If you have any additional questions regarding this you can email me at [email protected].
