Gold Price - Where is it heading?

[Kauri]

Ha , that lasted all but 20 seconds . Set my stop at 933.50 and then there it was .

I've been playing the 60 sec chart whilst the volatility is there.. looks like a correction/stop out to the minor trend coming up???
Cheers
.........Kauri

 

[Kauri]

I've been playing the 60 sec chart whilst the volatility is there.. looks like a correction/stop out to the minor trend coming up???
Cheers
.........Kauri

the trailer weathered that surge... reset it to last peak... looks like a few stops may have just been pooped???
Cheers
..........Kauri

 

[Kauri]

the trailer weathered that surge... reset it to last peak... looks like a few stops may have just been pooped???
Cheers
..........Kauri

and over and out... for now..
Cheers
.........Kauri

 

[ithatheekret]

The dance beat keeps changing hey ?

I wonder how many others added to that stopfest .

Might see that 931 entry challenged yet mate. That 934.85 drop was a doozy , that's a lot of empty positions by now , few more of those and the COTs report might look healthily oversold

 

[cuttlefish]

I guess they'll just keep trundling the IMF gold sale story out in one way or another every time the gold uptrend tackles a resistance level to try to keeps things orderly for the USD for as long as possible.

 

[explod]

I guess they'll just keep trundling the IMF gold sale story out in one way or another every time the gold uptrend tackles a resistance level to try to keeps things orderly for the USD for as long as possible.

The CB's have via the PPP been trotting out the co-ordinated fixed bank sales to depress the gold prices for 4 or 5 years now. It is obvious that many banks and countries no longer co-operate as they see greater value in holding some bullion against the deflation of paper money. So this tactic is dead.

The IMF holding is their last straw and like above will also fail quickly as well. Gold is well overdue for a correction and consolidation, the rise since last July has been phenomenal. It is an opportunity to take stock of the situation and load up on the dips.

A sign that the next leg up will not be far away is the strong showing of silver recently and notice it has held up fairly well overnight.

 

[Kauri]

gone with another little short...
Cheers
...........Kauri

 

[Kauri]

gone with another little short...
Cheers
...........Kauri

and trail set to B/E.. time for a coffee...
Cheers
.........Kauri

 

[ithatheekret]

I don't think we'll being seeing a $92B in sales from the IMF , if anything they would lighten the holding slowly , as the gold price directly affects the poorer nations that rely on mining . The last run up in Platinum could be based solely on the African Continents drops in production , the high prices are keeping the poor employed and fed .

Just caught the second go at a 931.45 entry on the dip , made up for my first stuff up on the last , don't like losing money Mon - Wed . They're my bread and butter days , Thurs. and Fri are the cream . If you don't fritz it like I did on my first entry , you can get some good movements to play in and out of . Made up my loss even though it was minimal , my first job was to get it back .... done .

I haven't shorted once , honest Kauri

 

[barrett]

Interesting silver held up, and the xau, hui as well (those indices probably also drawn up by overall market). That's very interesting.

I can't identify any trends at the moment and volume remains bearish since last night.. have a bit of a hunch on 928-930, no idea really.. If volume picks up on a rally I'll jump in.

lucky I pulled those contracts last night though, had bitten off more than I could chew around the 947-949 area, another half hour I'd have been all over..a body at the bottom of a price cliff.. my dad is in on the account and pushes for the highest leverage.. it's murder trying to time the thing

 

[Kauri]

and trail set to B/E.. time for a coffee...
Cheers
.........Kauri

and over and out for another nice little clip..
Cheers
..........Kauri

 

[MRC & Co]

I'm hoping that in the medium term house prices are starting to fall locally COLOR][/COLOR]
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And I think it will! Stockmarket a leading indicator, this slowdown will be shown in the indicators over the next months and property will be the last to show the weakness as always. Property market is the next to take the hit IMHO, which as you say, should influence the RBA and their IR decisions, of which will then help POG in AUD.

 

[CamKawa]

And I think it will! Stockmarket a leading indicator, this slowdown will be shown in the indicators over the next months and property will be the last to show the weakness as always. Property market is the next to take the hit IMHO, which as you say, should influence the RBA and their IR decisions, of which will then help POG in AUD.

I hope that the RBA are onto the fall in property prices and a general slow down in the economy pretty quickly. The last I heard from the RBA they were of the opinion that 1. China will save us and therefore 2. Rates will have to rise until something breaks. The Banks came out today and said that wouldn’t rule out there own rate rise on top of the RBA’s to further compound the increase. I believe the housing market is turning as we speak. I went to 4 auctions on Saturday and only 1 was sold, the other 3 were passed in. I spoke to a Real Estate Agent (REA) who said that in my area in eastern Melbourne property peaked about August-September and are continuing to fall. The REA said last Saturday vendors were taking what ever they were offered. As mentioned previously the faster property prices fall the sooner the AUD can start heading south. Then it’ll be a race between the AUD and the USD to reach the bottom first. I wonder how the POG in AUD's will fair in the mix.

 

[Kauri]

just gotta love those obvious stop runs..
Chers
........Kauri

 

[barrett]

just gotta love those obvious stop runs..
Chers
........Kauri

like that one at about 3am, blink and you'd miss it

 

[barrett]

I hope that the RBA are onto the fall in property prices and a general slow down in the economy pretty quickly. The last I heard from the RBA they were of the opinion that 1. China will save us and therefore 2. Rates will have to rise until something breaks. The Banks came out today and said that wouldn’t rule out there own rate rise on top of the RBA’s to further compound the increase. I believe the housing market is turning as we speak. I went to 4 auctions on Saturday and only 1 was sold, the other 3 were passed in. I spoke to a Real Estate Agent (REA) who said that in my area in eastern Melbourne property peaked about August-September and are continuing to fall. The REA said last Saturday vendors were taking what ever they were offered. As mentioned previously the faster property prices fall the sooner the AUD can start heading south. Then it’ll be a race between the AUD and the USD to reach the bottom first. I wonder how the POG in AUD's will fair in the mix.

Great stuff, nothing beats talking to the people in the business.. here in Canberra where the public service continue to spray the walls with cash I hold little hope of house prices ever reaching sane levels... at least there is a chance to make some money in the precious metals, and then, when the people who were leveraging 40X and 80X to buy investment properties in 2004 are lining up at the bank to buy precious metals, buy a house!

 

[Kauri]

just gotta love those obvious stop runs..
Chers
........Kauri

at least on the 60sec. charts you can get away with blinking once..
Cheers
........Kauri

 

[barrett]

trapdoor-market.. no way of knowing how many stops are lurking beneath
the volume keeps piling in relentlessly on the downside moves, and low on the rallies. Just now a sharp rally up to 929, but volume really ordinary, and waning on the way up...

 

[barrett]

at least on the 60sec. charts you can get away with blinking once..
Cheers
........Kauri

Kauri are you shorting?
....hey everyone, Kauri did it! :
j/k

 

[CamKawa]

Great stuff, nothing beats talking to the people in the business..

Thanks. There have been a couple of negative articles in the papers here about property and I just wanted to get out for myself to see if the reports were accurate and I can confirm they are.

here in Canberra where the public service continue to spray the walls with cash I hold little hope of house prices ever reaching sane levels...

I wouldn't give up hope. I think that real estate is in for a big fall started by the RBA's IR policy and then finished off buy a recession in the next 12 - 18 months.

at least there is a chance to make some money in the precious metals, and then, when the people who were leveraging 40X and 80X to buy investment properties in 2004 are lining up at the bank to buy precious metals, buy a house!

You read my mind.