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Gold Price - Where is it heading?

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rederob said:
The Fed will cut to at least 1% so there is still a lot of upside to POG.
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If you scroll down to the bottom of this page http://www.marketwatch.com/news/economy/economic_calendar.asp you'll see another 50 points pencilled in by June 25.
rederob said:
Certainly POG will take out $1000 without a problem, so it's just a matter of how much further before a major correction (minimum 15%) and spell in the wilderness.
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I agree my pessimism on the POG is only for the next few days. The long term outlook is good with Santa possibly bringing us all 1100 - 1250 for Xmas. I'm not ready to talk about 15% corrections yet.
 
CamKawa said:
Profit taking.

edit 1: Have a look at Barrett's graph b/w the 22nd - 24th.

edit 2: and I reckon the main reason the POG shot up the 25th was because the rumour mill started that another 50 points were on the way.
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Not sure of what you are responding to in Edit 2. ?? I often miss things.

Anyway the meeting to which I refer occurred 2 years ago and then the POG went up.
 
rederob said:
The Fed will cut to at least 1% so there is still a lot of upside to POG.
Certainly POG will take out $1000 without a problem, so it's just a matter of how much further before a major correction (minimum 15%) and spell in the wilderness.
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When the rate get's that low , the first thing I thought was cheap USD loans , much like the Yen rush of loans .

Taking into consideration in the fluctuations of the AUD , I'm really enthused at the prospect . The ability to repay is all that I see as a problem as I'm sure every man , cat and dog would be after them too .

For a 3% loan , I'd camp out the front of a bank for months , I for one could get 5% a month out of it and I'm sure others could too , probably better than that .

A young couple were telling me this arvo , that they had an equity loan tacked onto a homestart loan , the amount loaned was $30K starting at a variable rate though , of 3.8% . It pricked my ears up , but I don't think I'd qualify for this homestart , but I'm looking into it that's for sure .........

They have $100K fixed @ 7+% and $30K starting at the variable 3.8% mentioned , sounded good to me , but I did ask if they would be paying the $30K off as quick as possible .

I know I can walk into the bank tomorrow and get any loan I like , but the fees and interest charges are murder .

So , come on 1%
 

Excuse me for my ignorance but what is the easiest way to get a USD Loan and can you hedge so that you arn't paying more in repayments with a declining Aussie Dollar.
 
Try the web , loads of US banks advertising , hedging , you could try options .

But a financial adviser would be your best bet . The licences I have I don't want ........

POG on the other hand is acting like a currency all by itself , so the charts say lately
 

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That was beaut , looking for a reversal don't know how much steam is left at present , following the charts you need sea legs ...............

Thanks Ben .
 
Sorry mate I'm a christian , you heretic

It's moving and both ways works fine , little but often I was told as a kid , I listened now I've got 4 Closed these already , I'm game but not that game ............ missed the top short but managed the other close near it .

(watch it bounce around , pressure from the Dow futures and the Bond Insurer news ??? )

I have another string well above .But would be awfully tempted if it wains again .
 

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Unreal instrument this shiney yellow stuff , 2year under 210 as well ........ lousy US data and a platform gives you a licence to print your own money hey ....
It's gonna be a long night by the looks , heads down , wallets up and you could make decent living out of this work .
 

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Enoch said:
Excuse me for my ignorance but what is the easiest way to get a USD Loan and can you hedge so that you arn't paying more in repayments with a declining Aussie Dollar.
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This isn't the only way, just the only way I can think of.. a 'synthetic US dollar loan' by borrowing in $A and buying AUD/USD contracts to an equivalent value. Assuming no currency movements, the net interest rate gain on the contracts would cover most of the interest on the $A loan. Importantly the cash flow from the contract wouldn't be guaranteed, and certainly not steady.. but to manage currency risk you could have a fairly tight sell stop on it and if the $US persistently moved against you, move to a different currency spread. Maybe not the most stress-free way of financing the family home, but possible, with a forex account and a big jar of valium


oo, didn't like the volume on that big selloff just now..
 
Crashed as I refreshed eek .

Looks better with the Ichi reading overlayed , might be able to dig something out of it .
This poz is gone , for reversal . If I can do this anyone can .
 

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That was a good interview barrett , thanks for that.

Sitting up watching my short on a Wheat contract, so will also be keeping on eye on this thread and the POG.

Dow looks like it could possibly be a tank tonight, although too early to call but is down 125 as i type.

No technicals here, only gut feel, but have the feeling there are many been waiting for a sign to take gold profits and tonight if the Dow tanks, might just be the excuse that's needed, not too mention cash flow for those margins
 
Anyone on that swing ? Bl@@dy marvellous .


The Dows just started to recover , thanks to you know who and I don't mean Ben or George . Nearly missed it , got one of Waynes videos running , been going for yonks WAYNE , reckon it will take half a day to get through them , good stuff though . Is there an intermission ?
 
last run on POG for me I think , might get a quick buy back in before nanny nap time . Had a couple more in but covered too early .
 

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Vanilla Ichi settings are working a treat , makes calculations so much easier , some good tech trading out there .
 
One last short play shot waiting for another to fill the list , probably won't get it and will have to make do .


Tenk will cross from above soon too , might have to be very quick here .
 

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Covered bar the peak poz . took this screen shot just prior . It's tempting to hit again but greed can take over from logic and prudence .
 

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Sorry no I added , crikey , clean this up and bed next I think .
 

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It looks like the Tenk is going to cross from underneath , mid cloud around 925.65 on the chart price tad higher at present , but it looks like it might want to go pop ...... as in out of cloud and up again .
 
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