Sean K
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Ooops, the charts Im looking at had it under 800.
Brazil are a few days behind the rest of the world...
You were still calling 600s though werent you.... $630 ish....
Ooops, the charts Im looking at had it under 800.Kennas
Check the POG and charts
Last night It jumped US$ 90
to about US$ 870
HUI almost 12% up
Aussie gold $1050, up $78, 8%
It has been a hard road indeed and I am sure some shaky ones to come but remember days like this to make you stronger.
cheers explod
Well said.
Remember that September month has posted an average annualised return of over 30% for the last 30 years. The odds are really against a negative month for September.
Those who brought in early September could well receive 30% by the end of this month. I didn't thought we would make it this month, but i guess cyclical trend still prevail.
lol, right you are. So who's going to sell here and lock in profits?Whoa....... hold it it boys. I can hear the victory trumpets sounding.
With all due respect it is just a ONE day jump (an amazing one sure) up to here
I mean everyone likes to be on a good trade but the last couple of pages read like acceptance speeches at the Oscars!! LOL
Whoa....... hold it it boys. I can hear the victory trumpets sounding.
With all due respect it is just a ONE day jump (an amazing one sure) up to here
Whoa....... hold it it boys. I can hear the victory trumpets sounding.
With all due respect it is just a ONE day jump (an amazing one sure) up to here
I mean everyone likes to be on a good trade but the last couple of pages read like acceptance speeches at the Oscars!! LOL
Yep, and that's a worry for this newly minted gold bug. Where are the new buyers? That's what we need for this to go to 1,000,000/oz or whatever us crazy gold bugs suggest.
I'm still trying to work out who the buyers were last night! It was anything but normal.. it looked like forced buying. With all the big swaying bodies on Wall Street at the moment, could this have been based on one entity's massive short position being forcibly unwound?
Whoever was buying, it created the biggest volume day in gold futures in history,
or direct purchases of gold from bullion dealers (e.g. AGR Matthey, Ainslie bullion etc.).
Will be interesting to see the OI figures when they are published. The volume was truly amazing.
No doubt a lot of sleeping shorts court out but there was of course just as many sellers. For me last night was the first skirmish in a new war. Knowing who is going to win the battle at this stage is a bit hard.
Not hard at all. Gold is the only thing apart from good property that has good value in it at the moment. Many of us here have been trying to tell you that for years.
T/H you have still obviously not had a good read of this thread, as I suggested the other day, or you would have no doubts.
Hey barrett, my theory is that last night Lehman Bros had their trades closed after filing for Chapter 11 and they were net short on gold. This triggered a massive short covering and hence the explosion in price. The timing fits perfectly, and I remember reading that they were short on gold. Nothing else could have changed in the last 24 hours to invoke such as explosive move. Sure the fundamentals are super bullish for gold, but when haven't they been recently? A move like this smacks of manipulation (of the good kind this time) and I am VERY cautious of it as we full well know that it can track to the downside just as quickly if not even quicker.
Regards,
Cluster.
It would be interesting to know how much shorts they really have before they collapsed. And also if they really have fully covered their shorts.
Ok Explod whatever
Tell ya what when your averaging down on the likes of SBM and your other gold plays gets to break-even will ya tell me?
Then I can at least weight your arrogance to above triple negative junk!!
Hey barrett, my theory is that last night Lehman Bros had their trades closed after filing for Chapter 11 and they were net short on gold. This triggered a massive short covering and hence the explosion in price. The timing fits perfectly, and I remember reading that they were short on gold. Nothing else could have changed in the last 24 hours to invoke such as explosive move. Sure the fundamentals are super bullish for gold, but when haven't they been recently? A move like this smacks of manipulation (of the good kind this time) and I am VERY cautious of it as we full well know that it can track to the downside just as quickly if not even quicker.
Regards,
Cluster.
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