Gold Price - Where is it heading?

explod · 5 March 2008

ShareIt said:
Sounds like a bubble is building... I always believe if you hear the shoe shine boy giving you tips on buying gold, it might be a good time to take your profits

Along time from the Aunties and Taxi drivers getting in in this neck of the woods, seasoned investors are still a long way off. A bit of resistance towards 1000 US was a monty, in fact there will probably be a lot of resistance.

And too much excitement always brings in Big Chief Burnin Bush's PPP, sure the'll tinkasumptin too.

explod · 5 March 2008

explod said:
Along time from the Aunties and Taxi drivers getting in in this neck of the woods, seasoned investors are still a long way off. A bit of resistance towards 1000 US was a monty, in fact there will probably be a lot of resistance.

And too much excitement always brings in Big Chief Burnin Bush's PPP, sure the'll tinkasumptin too.

And the PPP seem to wait for an audience

Sean K · 5 March 2008

explod said:
Along time from the Aunties and Taxi drivers getting in in this neck of the woods

And beware the hairdresser/barber....always a clear sign. Mine was telling me about uranium about this time last year.....

Au's doing a floppy by the look, but overdue IMO. Hmm, I think I said that at 950...

scuffler · 5 March 2008

maybe not today then,lol.
But one fine morning in March we will wake up with 4 figures on the screen!

Have fun

ShareIt · 5 March 2008

scuffler said:
maybe not today then,lol.
But one fine morning in March we will wake up with 4 figures on the screen!

Have fun

That day is definitely not today... down $20 this morning

scuffler · 5 March 2008

i suppose with golds great run it had to have some profit taking.
It will gather itself again around current levels for another attack.

Great to watch.

Should be another "gift" day to pick up cheap gold stocks.

Why would anyone still sell gold stocks is crazy...short sighted id-iots imo.

Stand fast and watch POG rise!!

CamKawa · 5 March 2008

Oil is down a couple of dollars and gold has fallen in sympathy. The market maybe nervous about OPEC's meeting tonight, should they cut supply the price of both oil and gold will climb.

ithatheekret · 5 March 2008

Don't forget about profit taking .

The funds won't .

Real1ty · 5 March 2008

CamKawa said:
Oil is down a couple of dollars and gold has fallen in sympathy. The market maybe nervous about OPEC's meeting tonight, should they cut supply the price of both oil and gold will climb.

I think you will find the drop in oil was based on Technical Indicators and the presumed build of Crude Inventory levels, to be released today.

There has been amazing strength in the Oil futures recently and any attempts at shorting, i am talking from my pocket here, have been smashed with regular monotony.

Opec is virtually guaranteed to keep production as is, but they may include some comments about future cuts.

The recent gains in Oil and Gold have had a lot to do with the $ weakness and i think any significant moves for either will be $ driven.

Trichet was a little bit dovish in his chat with journos yesterday and while he didn't actually say it, there is a stronger feeling that the ECB might be more inclined to cut sooner than was first thought.

Interesting times indeed.

Kauri · 5 March 2008

Rumours that the US Gov is set to bail out Ambac
Rumours (for a week now) that commodities are in bubble territory and need popping...
Possibly may have some implications???
Cheers
............Kauri

Temjin · 5 March 2008

Ahhh, "da boyz" did it again by massively "suppress" the gold/silver prices between just after 10am NY time again. Don't people find this so recurring?

I have been reading articles on the "manipulators" (i.e. central banks) hate rise in gold/silver prices and always act to suppress the prices at a particular time when it is needed.

However, at a time like this, it would mean buying opportunity for those who aren't in yet cos the long term fundamentals and technicals still look really well.

MRC & Co · 5 March 2008

Wow, just woke up to see commodities hit the wall, not just gold!

Turn up in the banks so far this morning! Only another little rally effort until the reality kicks in that this financial crisis has not ended yet and the commodities go on another run! Needed a cooling down period anyways as Barrett said. Too many consective strong days for gold IMO.

Time to top up a little.

explod · 6 March 2008

MRC & Co said:
Wow, just woke up to see commodities hit the wall, not just gold!

Turn up in the banks so far this morning! Only another little rally effort until the reality kicks in that this financial crisis has not ended yet and the commodities go on another run! Needed a cooling down period anyways as Barrett said. Too many consective strong days for gold IMO.

Time to top up a little.

By Jove a bit of a shake out tones us all down but the party may be ready to begin now. Hope you topped up, we'll see what goes tonight.

Temjin · 6 March 2008

explod said:
By Jove a bit of a shake out tones us all down but the party may be ready to begin now. Hope you topped up, we'll see what goes tonight.

AHHHHHHHH! I knew this! Ok, I didn't really but kinda expect people would view that fall as a buying opportunity.

Was about to go out and buy some physical silver coins/bullions yesterday in the city, but was stuck at home sick. grr

MRC & Co · 6 March 2008

explod said:
By Jove a bit of a shake out tones us all down but the party may be ready to begin now. Hope you topped up, we'll see what goes tonight.

Yeh, was a great result overnight!

Wonder how soon we will see the 1000 cracked? Oil is through the roof!!!!!

explod · 6 March 2008

MRC & Co said:
Yeh, was a great result overnight!

Wonder how soon we will see the 1000 cracked? Oil is through the roof!!!!!

He he he, I never go out on a limb buuuut; silver... my canary is lighting up, we could see 1000 tonight.

MRC & Co · 6 March 2008

Yeh, this is really looking nice!

I would LOVE to wake up tomorrow morning to see the POG above 1000, just to cap off an already incredibly successful last couple weeks! What is work again?

Kauri · 6 March 2008

Rumour has it that an ASIAN CB is lightening up its reserves and selling the greenback... good for US crosses and Gold... I guess..???

Cheers
...........Kauri

scuffler · 7 March 2008

rumour that the chinese will start to offload a trillion dollars...

you dont say,lol.

They are probably dumping them right now.

Us dollar index is going south and there is ntg they can do to help it.
heading to 52.

Chinese will buy Euro and gold.
Get them both in.....

ithatheekret · 7 March 2008

If non-farm payrolls drop back again this month , it will open up many doors bolted shut on currencies etc., especially the Euro . The unemployment rate moved up slightly in Feb to 5% from the Jan 4.9% . There's a few calls out for NFP to improve by 30K , if it doesn't and goes backwards again ...... strewth , the 1.50 stories will be contained to history .

Lots of Dejavu out there , Cable touched into the 2.011 area again .

US 8.30 AM (EST) is the starters gun spot for the month on a few days , tonight sees the NFP report , 13th retail sales and 14th CPI .

Then of course the 18th for the rate decision at 2.30 PM (EST) .

.25/.50 or hold ..........

Must see viewing .

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