Gold Price - Where is it heading?

[Kauri]

It's what is quoted at the Perth Mint iirc.

Is there a buy/sell spread at the mint??

cheeres
...........Kauri

 

[nunthewiser]

But is there a 24 hr market that every one quotes and post charts for??

is this what your after ?

http://www.livecharts.co.uk/MarketCharts/gold.php

 

[Trembling Hand]

is this what your after ?

http://www.livecharts.co.uk/MarketCharts/gold.php

Nah mate. I got real futs data. Its just that NO market exist in AUD gold.

 

[Trembling Hand]

Ok have had a little look. If any one is interested (most likely not)

The AUD gold price that cfd providers quote, and wedsites etc, is obviously linked to three things.

You have the Nymex GC futs contract which is in USD. So thats two, Gold against US dollars but also the AUD/USD futs. So the providers are taking the GC contract price and linking it via conversion with the AUD futs. There is no continually quoted market for AUD Gold.

Having a look at my friendly cfd providers contracts for AUD Gold it flicks in price almost continually way way more than the GC contract. This is actually the move in the AUD USD not the gold market.

Like I said no one is probably interest but now you know.

 

[IFocus]

Ok have had a little look. If any one is interested (most likely not)

The AUD gold price that cfd providers quote, and wedsites etc, is obviously linked to three things.

You have the Nymex GC futs contract which is in USD. So thats two, Gold against US dollars but also the AUD/USD futs. So the providers are taking the GC contract price and linking it via conversion with the AUD futs. There is no continually quoted market for AUD Gold.

Having a look at my friendly cfd providers contracts for AUD Gold it flicks in price almost continually way way more than the GC contract. This is actually the move in the AUD USD not the gold market.

Like I said no one is probably interest but now you know.

There is Asian FUTs for gold same time zone some where

 

[Whiskers]

A quote from my post #5453...



Last nights high? $924.
Sep 18 high? $922

Last nights close? $906, on the lows.

Gold is now back at $894 so its a sign that the sellers seen back on Sep 18 are still active. Prices cannot go higher unless they are fulfilled or they back away. The day session can change dramatically, but an early 'red flag'.

Nick

Previously, I've noticed quite a difference in (Spot) quotes at times.

I use Kitco's spot price in my taskbar for a quick reference, but use below for longer term charting.

As an example of price differences, kitco's high last night seems to be over 921 and this chart 920... which from last time checked seemed closer to the LGE.

Similarly, this chart 18 Sept was 915 with the high 925, later at 29 Sept.

Different prices and different counts. Curious to know which ends up giving the best trend indication.

AUD gold overlayed but I wouldn't be bothered trying to chart it. Just a quick reference as to trend for returns to Aus producers

 

[barrett]

Hey nice work on the technicals there people, a lot of you were right onto this recent move..

We just added physical 2 weeks ago at about A$1000 and then last night I'm looking at the AUD price and we're up 40% but I reckon that's BS since it's all about the AUDUSD below.. like so many other (tradeable) moves in this market this recent AUD fall is a total crock, IMO, relative to the fundamentals... maybe this needs to be considered before loading up on the 1g/t Aussie pits going for loose change... though at some point during this gold bull surely there will be huge fortunes made buying those assets.

Could now be the time to buy them? It would need:
1. AUD to stay low, or
2. USD gold price to continue its recent uptick.
Personally I'd rather see the leading Aus-exposed gold stocks show some more continued strength before loading up on those juniors. Stocks like NCM and LGL should be hitting the roof right now, and they're not - not consistently.

AUDUSD weekly 1998-2008

 

[chops_a_must]

Its just that NO market exist in AUD gold.

Gotta say that's crap.

If I want to buy or sell physical, I have to do it in AUD. Therefore a market in AUD gold exists.

What you mean is an exchange traded AUD Gold contract. There isn't one, but it is a different kettle of fish.

 

[amory]

Is this the right time to get serious about gold? Bloomberg this morning ... at a glance ... DowJones down, Treasuries down, Oil down, Gold down ... anything up? yes the USDollar (indicating that the Fed is doing OK) ... and a headline ...
<< Gold Futures Drop on Bets Global Slump to Cut Commodity Demand >>
Note the word ... Commodity. just when it was beginning to look like its taking its rightful place at last & the fiat currency will end up in the nether regions where it belongs. just another commodity, well what do you know?

 

[BentRod]

Gold down ... anything up?

Not anymore.

 

[M34N]

Wow nice change of course there, was just about to say the same thing.

DJIA down 600 right now, was 700 down just a second ago. Talk about roller coaster! Those drops are becoming bigger and way too common late in the session on the DJ, capitulation has to be near surely? How long can people hold on in hope?

 

[BentRod]

Might even touch that TL @ 950ish the way it is going!

 

[amory]

I see what you mean, Bent! Gold ... well maybe after all .... and anyway the recovery of the USDollar is not all that impressive.

they say when the elephants are fighting, the mouse stays clear. but times like this, wouldn't it be nice to have a little piece of cheese to nibble at.

 

[Nick Radge]

The plight of Gold really has nothing to do with the US$ at the moment, not directly at least. The TED spread has blown out to record proportions, dramatically more so than that seen in 1987. This means investors are going to cash, specifically US T-Bills. All assets are being sold - Gold is an asset as well. In order to access US T-Bills, assets in any currency are being sold and US$ are being bought. You can't buy US T-Bills unless you pay US$. This is why ALL commodities and currencies are diving. Its a classic 'flight to quality' and regardless of what you think, US T-Bills are the safe haven (if it weren't the US$ would not be rising nor would the TED spread be blowing out)

 

[explod]

The plight of Gold really has nothing to do with the US$ at the moment, not directly at least. The TED spread has blown out to record proportions, dramatically more so than that seen in 1987. This means investors are going to cash, specifically US T-Bills. All assets are being sold - Gold is an asset as well. In order to access US T-Bills, assets in any currency are being sold and US$ are being bought. You can't buy US T-Bills unless you pay US$. This is why ALL commodities and currencies are diving. Its a classic 'flight to quality' and regardless of what you think, US T-Bills are the safe haven (if it weren't the US$ would not be rising nor would the TED spread be blowing out)

Absolutely, however the sentiment on the US currency (due to the debt problem which will not be solved sometime soon) will reverse and it is then that gold will show its power as real value. And as I have maintained it will probably not be till about March next year as the new US Admin takes full rien.

Always remember that gold is a very small component of the financial market so that small changes of sentiment will have huge effects.

 

[solomon]

I wasn't quite sure where to post this, but i wanted to share it and get some comments, it seems most relevant in the short term to the USD and in the longer term to inflation and the gold price - I'm a longer term guy so posted it here ...

from: http://www.bloomberg.com/apps/news?pid=20601087&sid=aCn0Cfv8Yuso&refer=home
"Foreign central banks raised their holdings of Treasuries in custody with the Fed for a seventh week as the Treasury and central bank took additional measures to support the financial markets. It was the biggest weekly increase since May 2003."

If I have interpretted this correctly it may be one of the key factors suporting the USD, because foreign central banks would need to buy USD to buy treasuries, or use their foreigh currency reserves. Is this the FED asking for big favours from its friends?

Either foreign central banks swap their USD for treasuries which puts more USD into the US system from their foreign currency reserves, or they have been directly buying USD to buy treasuries - which would be giving major support to the USD over the last 7 weeks. Is this a last resort before the FED starts printing money?

 

[chops_a_must]

The plight of Gold really has nothing to do with the US$ at the moment, not directly at least. The TED spread has blown out to record proportions, dramatically more so than that seen in 1987. This means investors are going to cash, specifically US T-Bills. All assets are being sold - Gold is an asset as well. In order to access US T-Bills, assets in any currency are being sold and US$ are being bought. You can't buy US T-Bills unless you pay US$. This is why ALL commodities and currencies are diving. Its a classic 'flight to quality' and regardless of what you think, US T-Bills are the safe haven (if it weren't the US$ would not be rising nor would the TED spread be blowing out)

Well... we'll see gold at 1013 on NY open IMO.

There goes my strategy of buying long dated calls at that level.

Ah well, at least I'll get a very big winner from the one I have now.

 

[nunthewiser]

would like to point out my previous call on Gold as being great as its the only bleedin one that ive made lately that been correct

go gold for bogans!

 

[GreatPig]

With the current price at about $137, I'm starting to hear that James Bond theme:

Gold finger...

Looks a bit like a one-finger salute.

GP

 

[refined silver]

This means investors are going to cash, specifically US T-Bills. All assets are being sold - Gold is an asset as well. In order to access US T-Bills, assets in any currency are being sold and US$ are being bought. You can't buy US T-Bills unless you pay US$. This is why ALL commodities and currencies are diving. Its a classic 'flight to quality' and regardless of what you think, US T-Bills are the safe haven (if it weren't the US$ would not be rising nor would the TED spread be blowing out)

There is a world of difference between perceived safety and real safety! Wall st Blue-chip financial shares were perceived safety a year ago, but as is seen now they are not real safety.

Yes people are running to US T-bills, but they are not ultimate safety as will be seen soon. The junk that is on balance sheets causing TED rates to skyrocket, is being transferred to US Fed so fast, it needed more T-bills from US Treasury becasue it was out. So its $800b US T-bonds (which are collateral for the Federal Reserve Notes (FRNs)(dollar bills) that it prints, have been replaced with toxic CDOs, CDSs etc!

In hindsight, we can see that Weimar govt bonds were not the ultimate safe haven. Same will shortly be seen with US Treasuries.

Gold is rising more than USD, so its not being sold, in fact it is proving to be the currency of last resort as it rising faster than any currency, and is already at record prices in AUD, Euro, GBP, and about nine other currencies.

Not only is gold rising faster, there is a massive disconnect between the price of physical gold and paper gold. In kids games, paper covers rock, which it has done also for many years in the gold market. This about to change.