Gold Price - Where is it heading?

[explod]

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

A close here is below one of the last supports. Gold and the Hui have decoupled so it will be interesting to see what transfers into our market.

 

[bean]

Yes Gold markets in 2008 seem to have party decoupled from the general market.

Bears shorting the general market beware!!
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/07/ccview107.xml&CMP=ILC-mostviewedbox

However gold bugs what happens may be more good news

 

[ithatheekret]

Wow , that must mean George was telling fibs , when he said he would not let the Fed interfere in the market , Treasury is part of the Fed the last time I checked and we've just been told that the money was coming from the Middle East c/- the Treasury head .

No one mention it was coming from a middleman , hang on , that means middle America will pay for it all . Cwaar they'll like that .

Perhaps we should email Joe at CNBC for his astute opinion , no use asking Erin she thinks we're all paranoid and delusional .

Aw gee it's really confusing

Does that mean good old Hank is lying too , surely not ?

........ but he even shared his dreams with us on CNBC .

Well ain't that just peachy .


"What everyone's looking at is what is the fastest way to get money out there," said a Bush aide.

Not heard about the marvel of helicopters obviously ..........

But it's hard to put the article into context , when we've just had the Treasury head talk about banks taking on more losses . The constant free fair market musings by the President . Nah they wouldn't do that , it would ruin any credibility they had ....... hang on scratch that .

 

[Sean K]

Yes Kennas, but at some stage there may well be a disconnection.

I wonder if this is the start. The gold stocks I'm looking at are all doing very nicely while the XAO is breaking down.

 

[ithatheekret]

Shanghai Gold exchange (SGE thereafter), approved by the State Council and founded by the People's Bank of China, performs the regulated functions stipulated by Management Rules of Gold Exchange and organizes gold transactions with the principle of openness, fairness, justness and honesty.¡*¡*


From Monday to Friday (except China's legal holidays): AM 10:00-11:30 PM 13:30-15:30

smallest trade is one kilo , smallest delivery is six kilos , mock ops underway .


http://www.sge.sh/redirect.asp?locale=1033


PS... Hope your having a great day Kennas , you've earned it cobber and you too Unc . onyas .

 

[numbercruncher]

Good Reading ......

The last time gold touched $850 an ounce, the world was visibly spiralling out of control.

Soviet tanks had just rolled into Afghanistan. The Mullahs had seized US hostages in Iran. Pax Americana was on the ropes, and so was capitalism. Inflation had reached 14 per cent in the United States.

The final spike in bullion occurred when the Hunt brothers tried to corner the silver market, forcing up gold in tandem through arbitrage links. It collapsed within days.

If you strip out the Hunt anomaly, it is fair to say that gold established a "safe-haven" level of $600 - or $1,500 in today's money - that roughly lasted through the final phase of the Carter malaise, the oil shock, and the collapse of confidence in the monetary order.

By this benchmark, last week's jump to $869 looks tame. Yet gold is undoubtedly flashing warning signs. The price has jumped 42 per cent since the US credit markets suffered their heart attack in August. It has tripled since Gordon Brown sold over half Britain's reserves, deeming it a barbarous relic. That conceit has cost taxpayers £3.4bn, after adjusting for returns from dollar, euro, and yen bonds.

rest at link ...

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=ULB5DFA1UWF41QFIQMFSFF4AVCBQ0IV0?view=DETAILS&grid=&xml=/money/2008/01/06/ccgold106.xml

 

[numbercruncher]

888


Gotta Love it !

 

[refined silver]

Hedge fund managers still trying to fight gold shares, they will end up getting creamed.

 

[Uncle Festivus]

What a difference an hour makes - Dow get's another cold and say good bye to 5% NEM, but gold stock disconnection starting. Didn't take that short @ $880 (too tired ) but did do one @ $889 this morning.

And open the champers - $1000 per oz in Aussie bleeders

 

[Whiskers]

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.

What is the significance of $902? That must be near the up-trend line.

There must be a risk of a significant 06 style correction if we get near there, or are we going to break the up-trend?

 

[ithatheekret]

$893 ......... how many price points in a row is that now ?

c'mon $905 next, just below one of the $1K figures saw 7 outcomes based on oil , the Euro etc etc etc , sorry not giving away all my configuration aspects . But this had a 48% chance of a retracement ( will need tweaking now ) , which can go as low as the figures I quoted well below here , only two chaos factors managed to see a relief in those numbers to date , they haven't happened yet, as the markets decline was already partly accounted for in the products . A resumption in base metals is another positive , which in itself has its own premium to the price yet to be added , but only as supportive structure .

I am very happy that I haven't been bagged on this for my projections , I used to have a rock proof suit , if you know what I mean . I thought I was going to cop it when I mentioned the 6200 test , the 6100 area under that and the prayers that it didn't hit 5800 and try for 5400 .

I always felt they were shoot the messenger tactics , or bag the whistleblower , in my previous posting elsewhere , it took time to get over that , the best cure was to immerse myself in my chosen areas .

My names Mark by the way everyone , please to meet you all .

 

[ithatheekret]

What is the significance of $902? That must be near the up-trend line.

There must be a risk of a significant 06 style correction if we get near there, or are we going to break the up-trend?

If your refering to my 905 , your a clever pussycat A+ for observation and don't think of gold as any other commodity , but there's a calculation for each point , actually there can be quite a few . But we have to add something first to the price , it's historical , but what , and it deals directly with the gold price , no outside the square stuff on that area .

 

[explod]

If your refering to my 905 , your a clever pussycat A+ for observation and don't think of gold as any other commodity , but there's a calculation for each point , actually there can be quite a few . But we have to add something first to the price , it's historical , but what , and it deals directly with the gold price , no outside the square stuff on that area .

Now to be sure I bet that is a very concise and clear explanation, but as just a simple old past plod I cant keep up anymore, but I am very interested.

Is it something like that Guppy box (breakout) thingo he came up with a few years ago?

 

[Whiskers]

Now to be sure I bet that is a very concise and clear explanation, but as just a simple old past plod I cant keep up anymore, but I am very interested.

Is it something like that Guppy box (breakout) thingo he came up with a few years ago?

I'll second that explod. He's a bit above me too.

Just to increase some anxiety, here is another look at that weekly, but on closing price. It seems POG touched it and backed off... for now!!!???

 

[Sean K]

With all this excitement, I'm becoming very cautious.

 

[rederob]

With all this excitement, I'm becoming very cautious.

Yes, the price is running too fast.
However, while there may be the odd retrace, you can see from the below semi-log chart below (now a week old!!!) that a "top" is a long way off.

 

[ithatheekret]

I don't mean to be rude , but one day I hope to sell my theory on and would prefer not to go into it , it is intricate , and it has better results in high volatility which it is also based on .

I just used in on the mini and entered my whole allocation set aside on it , to take up 560000 units at a cost just over 15K from 88525 through to 88760 , that brought in over $8.5K , it took a little over 36 minutes .

My dip buy and a couple of bottom range entries kept are the next run it's already gone positive , but the swings are extremely volatile and I wouldn't be bothered doing it if it wasn't.

It was put the money where my mouth was and I'm in the swings .

I hope it doesn't offend , but this due to my years of working very late and it must be able to pay me a dividend first , hopefully one day a nice cheque from a fund or such , I know this will sound over the top , but all the workings I do are locked away , in a fire proof safe with our very modest accumulation of bullion ingots .

 

[Uncle Festivus]

I don't mean to be rude , but one day I hope to sell my theory on and would prefer not to go into it , it is intricate , and it has better results in high volatility which it is also based on .

Ah, so that's the theekret! Can't you tell us, we won't tell anyone, hardly anyone reads this thread .

To be fair, you would have to indicate before you did the trade - picking that exact bottom could be easy in hindsite?
You don't have to say how you do it.

 

[Whiskers]

I don't mean to be rude , but one day I hope to sell my theory on and would prefer not to go into it , it is intricate , and it has better results in high volatility which it is also based on .


... I know this will sound over the top , but all the workings I do are locked away , in a fire proof safe with our very modest accumulation of bullion ingots .

Where did you say you lived again, maate???

 

[ithatheekret]

If you can figure out the six calculations it took for me to accept 88525 as an entry , you've got , if you sell it on I'd like royalties

Just exited higher entries at 8880 , still have the lowers , next dip should have a decent enough retracement I hope or I'll be stuck with what I have left ........ and have to pay 0.70cents per unit rollover on the buy side . Anything around or under say around 88725 would be attractive if it has the right intervals , I was hoping for another shot at 88700 / have bids there and at 88710 , but the markets have control at present so patience is a virtue and no grog today

In but off target already for 200 units , and have now topped it up 88690 and 88695 , as you can see it's not perfected to the penny , I only wish , but I am on the mini which are a little out of step again today .