Gold Price - Where is it heading?

[ithatheekret]

Don't forget what Kudlow says ......... " There's no recession out there ".

MOOOHAAHAAHAAHAAAAA

Well fortunately Ruphert has just grabbed the WSJ , that should see an editorial and columnist restructuring . If only he would stop buying back News Corp. shares , as he thinks they're cheap ...... he could then buy CNBC and sack the wombats wasting oxygen on that planet .

 

[wayneL]

Don't forget what Kudlow says ......... " There's no recession out there ".

MOOOHAAHAAHAAHAAAAA

The same turkey that was a US dollar bull a year ago too.

Kudlow is a Neo-Con shill. Nothing more, nothing less.

 

[ithatheekret]

The same turkey that was a US dollar bull a year ago too.

Kudlow is a Neo-Con shill. Nothing more, nothing less.

Oh that's good I wish I'd thought that one up .

So does that make Jim Cramer a lap dog or a dog lap ?

Sack him Ruphert and I'll subscribe just for something to read in the dunny !

Neo-con shill

Yep we're in the 70's

 

[wayneL]

Oh that's good I wish I'd thought that one up .

So does that make Jim Cramer a lap dog or a dog lap ?

Sack him Ruphert and I'll subscribe just for something to read in the dunny !

Neo-con shill

Yep we're in the 70's

Cramer? Cramer is a parody of himself.

 

[Kauri]

That is great Kauri
To be honest probably with your intelligence you should be letting the guys at Goldman Sachs to suck their hollow brains. You would be an asset in any investment banker (you probably are already)
Very analytical and hats off to you mate - great work done.
I could see the Gold price will be at about $830 reading your graph signals

Regards

With my intelligence I'd be lucky to get past an interview at McD's.. but nice thought anyways..
On the daily I have been, in this thread, looking for mid to low $700ish for a couple of months now... all the rest is clipping a living from the smaller moves.. mainly using a 1orA/2orB setup and looking for the 3orC to be either 100% min of the 1orA...
Cheers
.........Kauri

 

[Kauri]

am running with a short ... tight stop... something to replenish the grog cupboard with...
Cheers
........Kauri

 

[Kauri]

and the 4Hrly looks interesting... S/R's..T/L's...
Cheers
..........Kauri

 

[Miner]

With my intelligence I'd be lucky to get past an interview at McD's.. but nice thought anyways..
On the daily I have been, in this thread, looking for mid to low $700ish for a couple of months now... all the rest is clipping a living from the smaller moves.. mainly using a 1orA/2orB setup and looking for the 3orC to be either 100% min of the 1orA...
Cheers
.........Kauri

Hi Kauri
Thanks for your modesty. Ironically you were right to say that you would not be qualified for a job in McD shop. If you show your graphs, analysis and cryptic comments to regular customers of McD who came to buy a burger and not a bullion : do you think they will understand you ? They will disappear soon and so you will get a sack

Mate why compete with those young school leavers at McD ?

Do what you are good at. Just expand your cryptic jargon and speak in Plain English for dummies -that would be great .

REgards

 

[Kauri]

am running with a short ... tight stop... something to replenish the grog cupboard with...
Cheers
........Kauri

closed half... left rest on auto-pilot.. off to see what the local off licensce has to offer...
Cheers
.........Kauri :couch

 

[Kauri]

closed half... left rest on auto-pilot.. off to see what the local off licensce has to offer...
Cheers
.........Kauri :couch

If the minor count is correct and we are in a wave5... due to the large wave3 it may not drop much below the wave3 low... or something... however..if the US reckons the shine is on their dollar then gold may tarnish more..
minor talk that US banks may be bringing the dollar home to prop up balance sheets, but I'm not entirely sold on that.
Cheers
...........Kauri
P.S.. the local off licensce had anice drop of Bushmills .. I had better sign off before I get too stupid...again.

 

[Whiskers]

:topic

P.S.. the local off licensce had anice drop of Bushmills .. I had better sign off before I get too stupid...again.

Why? Did you try them all... did ya?

 

[Miner]

Oh No! So much of fun and free entertainment in this forum specailly the photos of bushmills were real spice in Kauri's graphs. We have some genuii here.
Great to read them under the context of a rather dry subject.
Bravo folks

 

[Kauri]

stop set.bed time for me..
Cheers
..........Kauri

 

[barrett]

mmm that golden drink definitely on topic this weekend..

Technicians, I just noticed what might be a lopsided head and shoulders traced out over the past week, does this look potentially valid?

 

[bean]

HUI index a head and shoulders pattern as well?
I mention a few days ago could be bearish if HUI closed under 400
It has now closed the last two days under

Gold stock sare still tied to the hip of the general market?

Not POG going to US$560!!!

 

[barrett]

I guess the support line in this chart is the neckline of the head and shoulders.. the breakdown continued last night..

Stocks usually act ahead of moves in the metal - for reasons that no-one to my knowledge has been able to explain - but they nearly always do - and that would tie in with Kauri's and Nick Radge's forecasts for a breakdown to the low 700's.

On that subject I also notice that bellwether stocks for the silver sector (eg Silver Wheaton, Silver Standard) have copped big selloffs in the past two days and in doing so both broke below the necklines of their head and shoulders.

 

[barrett]

Meanwhile back at the barrick, anglogold etc. treasury offices... they still don't think gold is at enough of a bargain price to reduce their net short position to less than 200 000oz.. historically a very high level. This also supports a short-term pullback in the gold price (I acknowledge they did short gold way too early in September - COT is very much a leading indicator and not very good for timing exactly _when_ the pullback will occur)..

And the XAU:gold ratio is at 0.209 - close to but not quite yet at buying level for gold stocks.

 

[barrett]

I am still waiting for the two time-tested signals to occur before buying more bullion, comex gold contracts and gold stocks:

1. XAU:gold ratio drops below 0.19. The strongest buy signal for medium to long term holders of gold stocks. It usually forms a bottom a week or more before the low in the metal.

2. Commercial COT net short position in gold drops below 60,000 contracts - buy signal for gold.

If these conditions are met I will start to buy aggressively. My guess is that (1) will take another week or two, and (2) maybe early January.

In the meantime it is hard to believe how gold and silver remain so poorly understood when the fundamentals for them are so clear. Given the possibility for an unanticipated ‘black swan’ event I keep around half my assets in gold and silver stocks/bullion even when short term bearish.

 

[ithatheekret]

You have to stop and think sometimes .........

3 days ago at 5.45am there was a massive downturn in just about every currency the USD is crossed with , all the majors stumbled , Cable held up until last night , then was pushed back with enormous effort .

This is no mere happening .

Banks have seen their lenders close shop and head for the sand and sun .
That means they need cash to keep up the rent payments and can only get from a reluctant market or at a Fed auction , neither the keen approach for them .

So where can they get that sort of money ?

Simple , go into the smaller markets and smash down the futures prices with puts and shorts , thus giving them ample liquidity in an immediate cash raising . You know gold etc. ..

Then we have a group of Central banks creating digital money at predetermined positions in exchange rates . That's the liquidity they are injecting ..... digital dollars . The USD strengthened miracluously over a few days , just afterwards we have a PPI report and a CPI report and a plunging market .

One hell of a repatriation if you ask me , fuel to the fire , watched one two years ago ........... I know what's going to happen .... naa nu nan naaa naaa

Staples are going up .


The COTs reports will be an interesting viewing , if the numbers have made it onto it yet !

But that's another problem . Especially if dust covers it up like the last round of hidings ...............

What get's me though is that everyone seems estatic about this Central Bank group injections/ interventions .......... I call it abracadabra .

But , this is a debasing , forget the unit price , it's the effect that's worrying , that debasing of the dollar unit , sends the widgets up in price .

So , the Grand Plan #2 Team have just created another inflation monster !

Their nightly prayer.......... ceteris paribus ..... ceteris paribus ..... ceteris paribus ........ aaaaameeeen .

 

[Miner]

Without being a technician it is probably we are going to have a world wide recession in most of the countries including US, Japan (already started), part of Australia (excluding WA and Qld). China and India will be spared because of they have a huge domestic consumption which insulates the recessionary effect.
With Gold price, again not being a techy - but more from experience :
Indians and Chinese buy huge gold. Normally Indian (Hindus) marriages take a high amount of gold. Traditionally between 14 Dec -14 Jan no Hindu marriages are held. So consumption drops down for Au.
However, with lower value of dollar it is probably normal the gold is to go up. If USA keeps on making excuse to drop a bomb shell in Iran - then recessionary ground will be reduced and gold price will go up.

Sorry I can not draw any graph here but if you please draw a correlation on international events, consumption there will be a X factor with gold price. I would be pleased to be told that it is my utopian concept - I will accept that.

Having said that I am looking for an opportunity to buy gold bullion and have started to pick up brains of the high tech whizards from this gold price thread.

Regards