Gold Price - Where is it heading?

[barrett]

some potential resistance levels on the daily,

the yellow.. potential support in the mid 70s for the next day or two
.. =0.38ret at 875.6.. A?

..and the red.. now at 840 but in another 10 closes it would be around that 0.5ret at 856.9..

 

[numbercruncher]

Nice little spanking recently on the POG.


Those GATA adverts sure musta pissed off the right people

 

[explod]

Nice little spanking recently on the POG.


Those GATA adverts sure musta pissed off the right people

Yeh, but they pick on the baby when asleep and it keeps waking. 900 looks like growing support and volume goes up every time it gets near it.

As for Bloomberg, GWB's ole buddy, are the greatest supporter the PPT and Republican's ever had. A good rule of thumb is do the opposite to what they say and no worries.

As for the US dollar index, it is down, looking shaky and very close to its all time low of late last year.

Be interesting to see where we are this time Wed. morn.

 

[Kauri]

Yeh, but they pick on the baby when asleep and it keeps waking. 900 looks like growing support and volume goes up every time it gets near it.

As for Bloomberg, GWB's ole buddy, are the greatest supporter the PPT and Republican's ever had. A good rule of thumb is do the opposite to what they say and no worries.

As for the US dollar index, it is down, looking shaky and very close to its all time low of late last year.

Be interesting to see where we are this time Wed. morn.

Come weds, it may be in a recovery WB??.. but a touch too early to call.. for me...yeti...
Cheers
..........Kauri

 

[josjes]

Yeh, but they pick on the baby when asleep and it keeps waking. 900 looks like growing support and volume goes up every time it gets near it.

As for Bloomberg, GWB's ole buddy, are the greatest supporter the PPT and Republican's ever had. A good rule of thumb is do the opposite to what they say and no worries.

As for the US dollar index, it is down, looking shaky and very close to its all time low of late last year.

Be interesting to see where we are this time Wed. morn.

When multi billion dollars currency traders make prediction like this, and they recognize that the ECB has been behind the curve and that the time may have come to move back into the greenback, don't dismiss it lightly. I can see the logic in this article. I think short terms US dollars has few friends, but sentiment is undergoing a turn as we speak. By middle of the year, dollar will likely to strongly rebound. Bear case for GOLD ?? Remain alerts for turn of event.

Bloomberg reports:

"Ben S. Bernanke's decision to lower interest rates 1.25 percentage points last month will end the dollar's two-year slide, according to the world's biggest currency traders."

Who is of this opinion? Deutsche Bank - the largest global currency trading firm, UBS AG, the second largest, BNP Paribas - Bloomberg's most accurate of currency forecasters that Bloomberg follows.

"Paris-based BNP, the most accurate of 31 firms surveyed about their currency predictions for the second half of 2007, is among the most bullish on the dollar in 2008 with its forecast of $1.36 per euro by yearend. Zurich-based UBS predicts $1.35. The median estimate calls for a 5.4 percent increase to $1.40 by the end of this year and a 6 percent gain to $1.32 in 2009. The dollar weakened 10.6 percent in 2007 and 11.4 percent in 2006 after strengthening 12.6 percent in 2005."

"Deutsche Bank AG, the world's largest currency trader, predicts an 8 percent gain in the dollar this year as the euro- zone economy expands 1.6 percent, lagging behind the 1.9 percent growth projected for the U.S."

 

[explod]

When multi billion dollars currency traders make prediction like this, and they recognize that the ECB has been behind the curve and that the time may have come to move back into the greenback, don't dismiss it lightly. I can see the logic in this article. I think short terms US dollars has few friends, but sentiment is undergoing a turn as we speak. By middle of the year, dollar will likely to strongly rebound. Bear case for GOLD ?? Remain alerts for turn of event.

Bloomberg reports:

"Ben S. Bernanke's decision to lower interest rates 1.25 percentage points last month will end the dollar's two-year slide, according to the world's biggest currency traders."

Who is of this opinion? Deutsche Bank - the largest global currency trading firm, UBS AG, the second largest, BNP Paribas - Bloomberg's most accurate of currency forecasters that Bloomberg follows.

"Paris-based BNP, the most accurate of 31 firms surveyed about their currency predictions for the second half of 2007, is among the most bullish on the dollar in 2008 with its forecast of $1.36 per euro by yearend. Zurich-based UBS predicts $1.35. The median estimate calls for a 5.4 percent increase to $1.40 by the end of this year and a 6 percent gain to $1.32 in 2009. The dollar weakened 10.6 percent in 2007 and 11.4 percent in 2006 after strengthening 12.6 percent in 2005."

"Deutsche Bank AG, the world's largest currency trader, predicts an 8 percent gain in the dollar this year as the euro- zone economy expands 1.6 percent, lagging behind the 1.9 percent growth projected for the U.S."

I do not dismiss it at all. It is the very power of it that one must take into consideration when actualloy making a trade. What I should have mad clear is that it is this unioun which is one of the last fundamentals/weapons left in place to protect the fiat currency system, a sytem that they will protect at all cost. Cetral Banks across the globe (Deutsche included) are going to be in trouble collectively as the dollar fails because many of them are holding too many of them. As long as my ATF peers understand this then no problems. A bit like buy the rumour(crap) sell the fact.

Interesting that gold dropped then returned up and the dollar continues to look a bit shaky in spite of the strong financial/media publicity.

 

[ithatheekret]

I agree the USD strength must return , but something tells me we will see POG rise with the USD , it has happened before and will more likely do it again.
Although I don't see the USD hanging about too long , might help to watch for repat dollars , they must know something , I had a little birdie mention that a lot of European co.s are looking at US companies , before the Sovereigns swoop on them all ............. and Japanese co.s are worried about this and saving nickels and dimes to counter .

 

[Whiskers]

Interesting to note that Platinum and Palladium have firmed strongly the last couple of days while Gold and Silver had a spell.

Foundations for another leg up for Gold!?

 

[ithatheekret]

so far today ........

 

[ithatheekret]

continued ................

 

[Sean K]

so far today ........

Yeah, but where is it headed itha? Got a hundred bucks if you tell me....

 

[numbercruncher]

Intresting little piece on Gold I stumble one today.

Goldfinger: who has the biggest bullion stash?


But the Federal Reserve Bank of New York holds the prize as the world's biggest known stockpile of gold, some 550,000 glistening bars of the stuff buried deep into the bedrock of lower Manhattan. That's US$203.3 billion worth of gold in a single place. Just 2% to 5% of it is owned by the US government, though. The rest is owned by foreign countries.

http://money.ninemsn.com.au/article.aspx?id=373488

 

[CamKawa]

If Stevo lifts rates here how will this affect the price of GOLD locally?

 

[Kauri]

Yeah, but where is it headed itha? Got a hundred bucks if you tell me....

Hows about $914-$919 short-term..
Chirp
.........Kauri

 

[josjes]

Hows about $914-$919 short-term..
Chirp
.........Kauri

Kauri's short term is 3-6 hours, right Kauri ?
Long term, hmm may be 2 days ?

 

[ithatheekret]

Still working on it Kennas , would like another dip as you can see , but I think Kauri is right with the 914 playout , but I have 911.45 so far , it can improve , especially if Aussies pass out with 9% today

I don't want anything but a smile if we can get it , give the money to ya missus , not a sealion okay , whilst your with the sealions look for whale pewk , it's worth more than gold .

 

[ithatheekret]

Sorry AUD made me shift them real quick , and even that's scarey at present , only 1 unit each though .

 

[CamKawa]

I haven't looked into the price for every single day but just running my mouse across the chart this would have to be one of, if not the biggest correction in the last 12 months. POG GOLD is currently trading at $99.270.

 

[ithatheekret]

Tell me about it , let me know if my poz bounces will ya , I'm not gonna look nup no f.. way .
Made 22 pips buying Cable , now I'm looking to swing it around , our dollar is a bloomin Kangaroo alright , it's had me almost trash the keys on this board .

 

[explod]

I haven't looked into the price for every single day but just running my mouse across the chart this would have to be one of, if not the biggest correction in the last 12 months. POG GOLD is currently trading at $99.270.

On an exponential basis the one in December was probably greater as we sit. A break down of 5% on close is standard trend following sell. Close to that now.