GreatPig
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Gold Price - Where is it heading?
- Thread starter guycharles
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explod
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So you reckon its ok for the big boys to short stock on insider information. And not only that for analysts to then jawbone up and short it again.
We need a thread on this topic to get right into it. Off topic here.
explod
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Yes but this is the thing that always stumps me. How in the hell do the GOLD BUGs make money on their love affair?? Most don't know how to trade Futures and certainly not long dated Fut options.
:
My gold and silver bullion is not for making money but for presevation of cash. If and when I need money I can be at the vault then the dealers and have a cash cheque into my account within an hour. When the market does become a bargain I will be back at making money. In the meantime I have saved a huge percentage by being out of this market for the last 12 months.
Trembling Hand
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They do the same on the way up, which every one cheers, but when it happens in reverse the suckers that have fallen in love with their own ideas cry foul. Its all part of taking money off the slow, silly and stubborn.
Whiskers
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I wouldn't call it a hammering, VViCKiD.
It is actually holding up very well in the face of falling oil and strengthening USD. That suggests to me that while people are unloading to some extent with less concerns about economic conditions, there is a real lack of supply of new gold (and some other minerals) and is likely to continue for some time.
I think it's just in a consolidation stage, actually just about finished and by my analysis will trend to new recent high's again in the not too distant future.
Trembling Hand
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Why does it matter?? Where is the consumption?
Whiskers
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Well, relatively speaking, even in economic slowdown a person consumes about the same, not a lot less anyway, on jewelery and other products containing gold, but the world population is ever increasing, so there is an endemic demand/consumption for gold particularly from developing and increasingly affluent countries like India and China.
A lot of the mining reports I've read point to a falling real supply of gold. Even if new supply remained static, eventually the price would rise on the abovementioned demand even without an increasing rate of hoarding by gold bugs for financial security.
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TH, are you trading this this morning? Nice long there at $778/$780 for the taking
Trembling Hand
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TH, are you trading this this morning? Nice long there at $778/$780 for the taking
Not now. Had a play a couple of hours ago but it wasn't on the long side( well mostly not). Now just wasting time looking at numbers.
Off to bed in the same position I have been in just about all year...... 100% cash overnight.
I will leave it for you.
BentRod
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hehe
smatr@ss
:
Kauri
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BentRod
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Well, seems like the POG is behaving as predicted so far... so time to gaze a bit further ahead again.
It's looking like it will complete the first minor leg up, in what I reckon is cycle III, any day now... about 845, maybe 860.
Then, I reckon it will sort out a little abc for wave 2 between say 810 and 845 over the next week or so... before heading for 880 odd.
All going like clockwork. Not even the bludy russians have been able to upset my general target... at least so far.
Feeling pretty good for a general market recovery with a steadyily increasing gold price, especially in AUD.
Got a few resource species lined up that have just about statistically bottomed out and due for considerable recoveries.
Whiskers......You still buying??
I was thinking of selling some more if it breaches the Monthly TL.
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Trembling Hand
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A world of hate being inflicted on the longs by the pesky manipulators!!
Wait till they step into the stops below $760. Probably perfect time for a snap back?? I mean the manipulators have to cover some time!
Wait till they step into the stops below $760. Probably perfect time for a snap back?? I mean the manipulators have to cover some time!
Whiskers
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just an idle thought...
Cheers
.............kauri
That's... interesting, mate... but what's it all mean?
What are the heavy lines? Are they software generated?
Yeah!
Yep, although I've mostly got what I want for now.
Been a bit volatile but when taking into account when oil and the USD move, I think it's still ok for the up trend.
Gold sorta gets
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Ah...you have finally flipped to the dark side, comrade gold bug
All markets are manipulated? More so the gold market coz it's so small.
There are anomalies in central bank gold inventory statistics that have not been addressed for several years, possibly because the gold is not there.
Some government treasuries have stopped or reduced the minting of gold coins - why?
When gold is the direct competitor to the central banks tool of insipid wealth destruction ie paper money, it would seem obvious that some effort would go into the covert suppression of the gold price through insider conduits of manipulation, like selected banks, and a few years ago, gold companies themselves eg Barrick. (It has been proven that Barrick manipulated prices on behalf of bullion banks and or the US Fed itself)
So, while gold is velcro'd to commodities we just have to go with the flow, but I predict that we will see both gold & the Dow in 4 figures before the year is out - buy the dips, short the rallies respectively?
The USD is getting closer to a capitulation top, then fundamentals shall prevail once again, even in the face of concerted efforts of the vested powers to save what's left of the dimming glow of the greatest credit expansion in history.
Is the US Fed still in money printing mode (inflationary)? You bet. Have a look at this article -
http://seekingalpha.com/article/94635-stagflation-or-deflation
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A very simple question ... what is the alternative to the USD as a currency.
In my VH opinion the US has now, with the F'n'F bailout, firmly established itself as a basket case economy and the USD is now not really worth a heck of a lot. Between Fanny and Freddy and the FDIC the US will be printing more US dollars than Sorbent prints double sided sheets and they are both of equivalent worth.
So on that basis what is the alternative?
*If* the world decides its gold (and 10,000 years of history has shown that its not that bad a bet after all really) then there isn't a heck of a lot of the shiny stuff when you add it all up.
But this is all rather irrelevant anyway, because, as per SAM9324's post, CERN has decided to end the world tomorow, and so I've nominated that as a top shelf excuse to imbibe. :alcohol:
In my VH opinion the US has now, with the F'n'F bailout, firmly established itself as a basket case economy and the USD is now not really worth a heck of a lot. Between Fanny and Freddy and the FDIC the US will be printing more US dollars than Sorbent prints double sided sheets and they are both of equivalent worth.
So on that basis what is the alternative?
*If* the world decides its gold (and 10,000 years of history has shown that its not that bad a bet after all really) then there isn't a heck of a lot of the shiny stuff when you add it all up.
But this is all rather irrelevant anyway, because, as per SAM9324's post, CERN has decided to end the world tomorow, and so I've nominated that as a top shelf excuse to imbibe. :alcohol:
Kauri
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That's... interesting, mate... but what's it all mean?
What are the heavy lines? Are they software generated?
Basically it's my take on EW... showing that we may be in an intermediate W3 of a larger W5... so expect.. and as happened... a sharp impulsive drop...
Cheers
.........Kauri
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Yeah!
Yeah, i reckon gold's gonna hit the roof. At 756 today...
(I'm being sarcastic incase you didn't notice!).
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