this thread.. https://www.aussiestockforums.com/forums/showthread.php?t=9117 posts 8 and 10 should get it for you..Temjin: are you using a live account with MetaTrader4 to get both Gold and Silver or is it a demo?
I'm using the bog-standard Metaquotes demo server and I only get gold...
If Gold and the $ are somewhat linked currently it may be time for a shuffle soon??
Cheers
..........Kauri
If Gold and the $ are somewhat linked currently it may be time for a shuffle soon??
Cheers
..........Kauri
Reports that the IMF is going to sell 400 tons of gold might be putting it under pressure. I thought there were agreements of how much and when gold could be sold? Maybe that's just for CBs.Oops.. 910 right now, not looking so flash now on the hourly
Reports that the IMF is going to sell 400 tons of gold might be putting it under pressure. I thought there were agreements of how much and when gold could be sold? Maybe that's just for CBs.
My understanding is that the CB agreement limits the max that could be sold, not the min. e.g. it allows volatility. IMF sales will be within the allowed amount by the CB agreement but this is hazy - IMF sales could still skew gold price.
correct me if wrong
IMF to sell gold
The IMF said it will sell 403.3 metric tons of gold, currently valued at more than $13 billion, and cut substantial costs as part of an efficiency drive.
In a statement on Monday, managing director Dominique Strauss-Kahn said the IMF had made "difficult but necessary choices" to close an income shortfall and make the agency more efficient through a "new and sustainable income and expenditure framework."
The proposal faces at least two key hurdles. The U.S. Congress must approve the IMF's proposal to sell gold. Most member countries will also have to enact legislation to expand the IMF's investment authority.
The IMF holds 103.4 million ounces, or 3,217 metric tons, of gold. As of late February, those holdings amounted to $95.2 billion at current market prices, according to information published on the fund's Web site. The IMF holds the third largest gold reserve after the U.S. and German governments.
IMF is not a party to Central Bank agreement and can sell as much gold as they have whenever they want.My understanding is that the CB agreement limits the max that could be sold, not the min. ie. it will allow increased supply up to a point. IMF sales will be within the allowed amount by the CB agreement but this doesn't mean IMF sales won't skew the gold price.
correct me if wrong
IMF is not a party to Central Bank agreement and can sell as much gold as they have whenever they want.
Russian and China are just waiting for large amounts to buy, they have to limit purchases so as not to move the price. As in the past any large amounts will be absorbed quickly.
I think from memory, (but it is sourced back in this thread) current sales are in excess of 1,000 tons p.a
The main object of the IMF announcement is to create a perception and keep gold at this level for awhile, and it will probably do that.
20th April till 5th May is annually a strong period for gold accumulation.
We will see.
I f the russians and chinese want to buy large amounts and the imf wants to sell large amounts... why don't they get together... or are they only allowed to trade on the punters market??
why does the imf want to suppress the pog??
Cheers
...........Kauri
I f the russians and chinese want to buy large amounts and the imf wants to sell large amounts... why don't they get together... or are they only allowed to trade on the punters market??
why does the imf want to suppress the pog??
Cheers
...........Kauri
FED RATE-CUTTING CYCLE MAY BE OVER
RBC Capital Markets says summer gold correction doldrums are coming
In a research report, RBC Capital Markets analysts feel that investors should consider taking profits in gold ahead of the traditionally weak summer season and then take advantage of an anticipated rise later in the year.
Author: Dorothy Kosich
Posted: Wednesday , 09 Apr 2008
RENO, NV -
RBC Capital Markets Tuesday urged investors to crystallize profits now and "take advantage of gold at lower levels within the June-July period."
In his analysis, Michael Curran noted, that over the past 28 years, gold has typically outperformed during the months of April and May, usually followed by a seasonal slowdown in the summer months, "and an upsurge in the early fall."
"We believe investors should take profits ahead of the end of a Fed rate cutting cycle and ahead of the seasonally quiet period for gold and gold equities in June, July and early August," Curran wrote. "Since the broader market began to react to the uncertainty over the US subprime mortgage crisis on August 14th, and the sell-off of all financial securities began, we believe that gold has discounted in the uncertainty in financial markets and the implied inflation expectation associated with rising commodity prices. We think recent news of possible IMF gold sales up to 400 tonnes are priced in at current levels, and would have limited impact on the market."
"On the back of this rationale, we advise clients to sell into the typically strong April-May timeframe, ahead of the seasonal slowdown usually observed in the early summer months," he said.
‘Combining our view that a seasonal slowdown for gold demand is around the corner in the summer months, and the possibility that the U.S. fed rate cutting cycle may come to an end shortly, we believe the timing is right for investors to take profits in the short term in gold and gold equities.
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=50435&sn=Detail
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