Gold Price - Where is it heading?

[So_Cynical]

Nice chart explod....quick some one post in the outstanding break out alerts thread.:dance

So thats the intra day record gone as well ? or is that only relevant to NY price ?

 

[ithatheekret]

Well there's $870 on the board and $880 for the next poz wouldn't have me faint , I wonder if we can get to $905 and a big opening for Shanghai would be nice .

Nice ........ it would be f.ff.ff...ff..... great .

 

[refined silver]

We'll almost certainly see $1,000 gold in 2008. But, we may have a correction first.

Nothing goes up in a straight line, and the US dollar is due for a counter-trend rally.

The countertrend USD rally may be over. It went from 74 to 78 on the USD index, now at 76. It may move sideways for a bit, 78 will be tough to break, 80 incredibly tough and only a retest of the 34 year old broken neckline, or just as likely it could drop like a stone to 72, on its way a lot lower.

 

[refined silver]

Nice chart explod....quick some one post in the outstanding break out alerts thread.:dance

So thats the intra day record gone as well ? or is that only relevant to NY price ?

Intraday it hit $887.50 in Jan 1980.

 

[explod]

The countertrend USD rally may be over. It went from 74 to 78 on the USD index, now at 76. It may move sideways for a bit, 78 will be tough to break, 80 incredibly tough and only a retest of the 34 year old broken neckline, or just as likely it could drop like a stone to 72, on its way a lot lower.

Looks like it is about to complete a head and shoulders, commenced 20th Dec, then continue down IMHO

 

[explod]

Intraday it hit $887.50 in Jan 1980.

Yeh, we could expect some pretty intense resistance at this point, would not expect a glide through as easy as the last few weeks.

But if it did I would agree, it would be fffff.........fffff.......ff....very bbbbb...nice

 

[barrett]

Looks like wave 5 underway already, anyone adding to positions on the breakout?

Added an extra 2 contracts at 856 yesterday but set the stop just a touch too high that cost me a cool $3.5K so far..

Just added another 2 at 872 on the breakout, this could be a big week. Will be interesting to see if the HUI breaks out too.

A summary of some well-known gold timers' outlooks:
http://www.marketwatch.com/news/sto...x?guid={BBC65065-057C-4A80-A101-53AE266D08D2}

GLTA

 

[bean]

this could be a big week. Will be interesting to see if the HUI breaks out too.

If HUI goes above 460 tonight or tomorrow on way to 500 min

I bought 'gold' today as service I subscribe to informed breakout tonight 'FEB gold' and on its way to US$ 902 at least in this move.

Also all POG corrections are very shallow. so often hard to find the bottom of the correction

Also a possibility of a very interesting night on the DOW is about to happen? yet looking at the futures at the moment they are positve so maybe not.

 

[refined silver]

A summary of some well-known gold timers' outlooks:
http://www.marketwatch.com/news/sto...x?guid={BBC65065-057C-4A80-A101-53AE266D08D2}

GLTA

You asked about other analysts with good records, but in that article are some of the best in the business.

 

[rederob]

Intraday it hit $887.50 in Jan 1980.

Comex showed $895 so a break over that would be nice.

 

[explod]

If HUI goes above 460 tonight or tomorrow on way to 500 min

I bought 'gold' today as service I subscribe to informed breakout tonight 'FEB gold' and on its way to US$ 902 at least in this move.

Also all POG corrections are very shallow. so often hard to find the bottom of the correction

Also a possibility of a very interesting night on the DOW is about to happen? yet looking at the futures at the moment they are positve so maybe not.

Hui at $461.

The chart, just cant' help meself !!!

 

[ithatheekret]

Crikey , you should see Skippy on the hop , old man emus driving .

he can run the pants off a kangaroo

Is that our handicap ......... now on par excellence ?

Not quite , another 30 odd cents yet .

 

[chops_a_must]

Crikey , you should see Skippy on the hop , old man emus driving .

he can run the pants off a kangaroo

Is that our handicap ......... now on par excellence ?

Not quite , another 30 odd cents yet .

ROFL.

Well, volume and the PPT couldn't hold it back today. Australian gold equities really need to follow through from here...

 

[Sean K]

ROFL.

Well, volume and the PPT couldn't hold it back today. Australian gold equities really need to follow through from here...

Are gold stocks moving predominantly with the market, or POG? Bit of both? Need a good finish on the DOW for gold stocks to run with POG here I suspect.

 

[Uncle Festivus]

Yes Kennas, but at some stage there may well be a disconnection.
Well this translates to about 20-25c for NEM today, if the rest of market doesn't tank. Interesting strength in POG with little pullback consolidation - has a pause to recharge and off it goes again. The trader in me looking to short around here ie $880? Deal or No Deal - Lock It In!!

 

[chops_a_must]

Yes Kennas, but at some stage there may well be a disconnection.
Well this translates to about 20-25c for NEM today, if the rest of market doesn't tank. Interesting strength in POG with little pullback consolidation - has a pause to recharge and off it goes again. The trader in me looking to short around here ie $880? Deal or No Deal - Lock It In!!

Unless you were looking for scalps, at the moment there is very little room to trade anywhere but long on gold. It's pretty much been just a one way trade. Until there is some weakness off an opening, I personally wouldn't be touching the shorts on it.

 

[bean]

Just a little bit more on HUI number

Extract

Ackerman 6/1/07
A run-up to as high as 506.50 is possible over the next 6-9 days, but first the Gold Bugs Index would need to close above 460.86 for two consecutive days.

NEM - was given a number to buy bought, the stock gapped up so US subscribers missed out however Aussie subscribers seeing the POG pass a certain buy point during yesterday could have jumped on board.

However looking for the two I did buy AVO and CXC to make good runs

 

[Sean K]

NEM - was given a number to buy bought, the stock gapped up so US subscribers missed out however Aussie subscribers seeing the POG pass a certain buy point during yesterday could have jumped on board.

However looking for the two I did buy AVO and CXC to make good runs

Beanster, I thought you were waiting for $540 as an entry? he he

 

[ithatheekret]

No curbs yet , except the one Paulson hit his head on . He started talking /dreaming dollar strength again , look what happened , scared the willies out of Skippy it will take her months to get the stains out and old man emu did more than the average walkabout .

Poor old Hank I don't know .......... Do ya think he was nervous ?

I reckon we should swab him



I noticed he covers himself when standing , good idea , come March the odd shoe could get close . If I was President I kick him where it hurts for spitting out the benefits story when NOT asked . Whose side is he on ?

His mates open shop today , in Shanghai , they might shanghai something too .


Cramer was just on with " I'm not paranoid enough to buy gold " Erin ..... and he actually said something real about ethanol ........... I'm shocked , stumped , absolutely mollified even , he comes out of left field and says something right , a little late , but right . WTF is going on ..... ?

Bread and butter politics , Hillary a chance ...... EEEEEK , it's gettin' scary again . Now if she kicked Bill in the choice parts , she could sway me

....... and how's about those last minute market decisions hey ....... 1404.22 eeeek for the S&P , the Dow just been dacked and the Nasdaq has said hello day 7 .

Every second word on the squawk box is recession .


FRITZ

 

[bean]

Also a possibility of a very interesting night on the DOW is about to happen? yet looking at the futures at the moment they are positve so maybe not.

It would appear it is now happening - should be gut wrenching till the bottom