Gold Price - Where is it heading?

[iced earth]

GOLD - 13
as predicted before, gold hits the target of HEAD & SHOULDERS (around $12300)


https://www.aussiestockforums.com/forums/showpost.php?p=551437&postcount=7596

 

[Logique]

I found this very bullish article, written in November 2009, by the Managing Editor of Money Morning, link is http://moneymorning.com/2009/11/19/gold-prices-8/

Why Gold Will Reach a Record $2,000 in 2010....
'With the U.S. dollar in a freefall and global gold demand rising, analysts say the precious metal will likely continue its bullish trend through at least the first half of 2010. It could rise as high as $2,000 an ounce, which would represent a 73% gain from current record levels....

...“You have to consider the amount of money sloshing around the world right now – China’s $2.2 trillion in reserves, India’s $285 billion in reserves, all of the money in central banks throughout the Middle East,” said Martin Hutchinson, a contributing editor for Money Morning and a veteran banker with more than two decades experience in the international marketplace. “If all of the serious money charges into gold and gold really gets going, you’ll see a tremendous spike in prices.”

Concludes Hutchinson: “I believe the price of gold will hit $2,000 an ounce next year [2010].”......

...Timothy Green, the author of “The Ages of Gold,” described India’s purchase [of physical gold] to Bloomberg News as “the biggest single central-bank purchase that we know about for at least 30 years in such a short period.” “The only comparable event was the U.S.’s steady purchases in the 1930s and 1940s,” he said....

...“Everyone who says that gold will hit $2,000 in five years is wrong,” said Money Morning’s Hutchinson. “It will be back down in 5 years. If it’s going to $2,000 it wil get there next year [ie in 2010]...”'

 

[Edwood]

'Longer term' the whole move off the highs still looks like a consolidation in an uptrend - i.e., continuation - and the inverse h&s suggests 1250 area - in my opinion, dyor etc

lol - "as predicted 9th April"

You're not coat-tailing me, are you iced-tea?

 

[explod]

GOLD - 13
as predicted before, gold hits the target of HEAD & SHOULDERS (around $12300)


https://www.aussiestockforums.com/forums/showpost.php?p=551437&postcount=7596

So on your analysis iced earth, where to now ?

Looking strong tonight and in record territory at US$1238

 

[explod]

Re: Gold Daytraders

Explode how many more time does it have to be rammed down the gold bugs dumb brains that futures contract traded NEVER = physical in ANY market.



DUMB DUMB DUMB.

?

FFS!!!!!!!

Glad not to know about that future stuff t/h, think the physical in the hand is going to win in the long term for the dumb ones though

 

[Edwood]

longer termer from me for you Explod

no numbers or letters tho sorry....

 

[explod]

longer termer from me for you Explod

no numbers or letters tho sorry....

Well your chart looks very optomistic Edwood and hope it plays out. My rough rule says that currencies are in trouble because they have to feed the outstreached hands of the sheeple. So further dilution means less value in the paper and more paper to bu the gold.

So on my rough rule and your chart Edwood could we settle on a US$ gold price by the end of the year of say, 17 t0 18 hundred could be fair.

Raining here again in Mt Martha as I write, damned global warming, making too much cloud = rain.

 

[GumbyLearner]

Au breaking out to new highs.

 

[Edwood]

turned o/n at 1248.13 - sincerest apologies I was out by 1.87 on the target

 

[Uncle Festivus]

Sorta makes it so easy to swap your "IOU nothings" for something tangible?

The Emirates Palace hotel has set up a gold-dispensing machine, which monitors the daily gold price and offers small bars to its Abu Dhabi customers.

The machine is the first international foray for German entrepreneur Thomas Geissler's 'Gold to Go' brand.

Geissler, who started testing the cash-for-gold machines in Germany in 2009, says he chose Abu Dhabi due to the traditional and major role that gold plays in the region's business.

The ATM, unveiled on Wednesday, offers up to 10 grams or coins with customized designs, AP reported.

 

[MRC & Co]

Euro weakness = gold strength. Thing to watch for a reverse of this correlation is any PIIGS restructuring or talk thereof.

 

[Edwood]

could see gold back under 1200 soon imo

 

[hitmanlam]

Momentum has certainly stalled for the time being. Distribution top or consolidation on a continued uptrend? Who knows. The dilemma.

 

[Ageo]

You can assure there will be a strong correction in the near future which is always the case. 1300AU should be the base thow now.

 

[MRC & Co]

Momentum has certainly stalled for the time being. Distribution top or consolidation on a continued uptrend? Who knows. The dilemma.

That is sure not a distribution top as far as technicals on the GC chart.

 

[explod]

It has been a good little uptrend since February and every week or two after an uptick we have a week to a few days of consolidation. I have seen these episodes in the gold bull since 2003 many times. It is when we have a very large and sudden jump up that it seems to blow off the top.
this occurred back in November and another back in the middle of 08 and another distinct one in 06. I do not think we are there yet and in a few days gold would in my view continue up another 30 or 40 US$'s. We shall see.

 

[CapnBirdseye]

Thats quite an uptrend there. Higher highs at 1249.50 and counting. No idea where this is going.

 

[explod]

• Gold bullion or the equities? We feel investors should have the
ability to participate in both markets. When gold is performing well,
the gold equities offer leverage. Today while the gold price moved up by
2.4%, the gold equity index (HUI) appreciated by 6%. However, if gold
is simply moving sideways, the gold equities can lag the metal.
Additionally, if gold (or any commodity) is perceived to be spiking
higher, it’s quite likely that the equities will lag the commodity price.
With the 1979/80 spike to $800/oz being in excess of $2,000/oz in
today’s dollars, we feel we have some time before this becomes an issue.

The above is from a JP Morgan newsletter, and so gold is/maybe heading higher soon, cause I think they's the boss. However the real inflation adjusted price from the peak of 1980 is around US$5,000 for the full report see:-

http://www.gata.org/files/JPMorganGoldReport-05-11-2010.pdf

For GATA commentary and how I found above link see;-

http://www.gata.org/node/8652

 

[Boyou]

Thanks for the links ,explod.Good info.

Somewhat off topic ,but,they mention silver in the article so...what do they mean by "high beta"?

"We continue to see silver as “high beta” gold. Silver itself was up
4.4%, and our favorite silver equity, Silver Wheaton, was 8.1% higher on
the day"

Cheers.

 

[Ageo]

Thanks for the links ,explod.Good info.

Somewhat off topic ,but,they mention silver in the article so...what do they mean by "high beta"?

"We continue to see silver as “high beta” gold. Silver itself was up
4.4%, and our favorite silver equity, Silver Wheaton, was 8.1% higher on
the day"

Cheers.

Personally i think silver is actually better than gold for long term investment.

Its cheap to get into, you can buy large quantities and has the potential to double its value many times over unlike gold.

Remember in yrs to come silver will be fetching dollars per gram not cents so if your sitting on 100kgs (which is only 60k roughly now) it could be a very nice retirement package.