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That is one hell of a scary graph!
Gold Price - Where is it heading?
- Thread starter guycharles
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That is one hell of a scary graph!
Hello Friends,
The fall in gold in the previous days was because of the coming elections and the cuts in the interest rates by the banks. As the governments are trying to control the inflation rates. Gold might come dome for some points more. After that you can again see the gold to its original price.
The fall in gold in the previous days was because of the coming elections and the cuts in the interest rates by the banks. As the governments are trying to control the inflation rates. Gold might come dome for some points more. After that you can again see the gold to its original price.
Here's a perspective from the other side of the pond.
http://news.goldseek.com/GoldenJackass/1225389600.php
IMHO.......Gold is going north, and very soon.
http://news.goldseek.com/GoldenJackass/1225389600.php
IMHO.......Gold is going north, and very soon.
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Hi dervaig,
You beat me to it
I had just finished reading his article and thought it was worth sending to this forum.
His previous article was just as riveting also. It can be viewed at:
http://www.financialsense.com/fsu/editorials/willie/2008/1023.html
Cheers,
Bankit
You beat me to it
I had just finished reading his article and thought it was worth sending to this forum.
His previous article was just as riveting also. It can be viewed at:
http://www.financialsense.com/fsu/editorials/willie/2008/1023.html
Cheers,
Bankit
Whiskers
It's a small world
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As mentioned earlier my latest EW count is looking for a larger degree impulse wave C pretty soon. That correlates with the USDX about to start falling again... but maybe not collapse per-se.
Got some Morning Stars to show yers now.
Gold fell three weeks ago against the GBP and EUR on Evening Stars.
Gold has in the last few days turned higher in JPY on a Morning Star.
The problem is though the following have just turned in the last three days rising on a Morning Star:
AUD/USD - #16 @ https://www.aussiestockforums.com/forums/showthread.php?p=356433#post356433
AUD/JPY
AUD/EUR (which is confirmed by an Evening Star on the EUR/AUD)
USD/JPY
EUR/JPY
GBP/USD
GBP/JPY
So, it looks like the AUD is set to rise some more against the USD, EUR and JPY.
The GBP is set to rise more against the USD.
And similarly, the USD, EUR, GBP, and AUD to rise against the JPY
The question is the degree as in the weighting of the EUR, JPY and GBP in the USDX.
Got some Morning Stars to show yers now.
Gold fell three weeks ago against the GBP and EUR on Evening Stars.
Gold has in the last few days turned higher in JPY on a Morning Star.
The problem is though the following have just turned in the last three days rising on a Morning Star:
AUD/USD - #16 @ https://www.aussiestockforums.com/forums/showthread.php?p=356433#post356433
AUD/JPY
AUD/EUR (which is confirmed by an Evening Star on the EUR/AUD)
USD/JPY
EUR/JPY
GBP/USD
GBP/JPY
So, it looks like the AUD is set to rise some more against the USD, EUR and JPY.
The GBP is set to rise more against the USD.
And similarly, the USD, EUR, GBP, and AUD to rise against the JPY
The question is the degree as in the weighting of the EUR, JPY and GBP in the USDX.
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Whiskers
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Whiskers
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That would be a C up for a major wave 1... ie after it finishes this minor abc which will probably take it down to 696ish.
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anyone read this?
http://www.gold-eagle.com/editorials_08/peterson102908.html
unbelievable.. but could it be true?
if it is then should be easy to trade...
http://www.gold-eagle.com/editorials_08/peterson102908.html
unbelievable.. but could it be true?
if it is then should be easy to trade...
GreatPig
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Let's all just take a momentary step back and a long, deep, calm breath.
Breathe in, hold it, then out....
Now, from your calm and objective perspective, maybe we should be asking not "where is price of gold heading" but "what can I buy with an ounce of gold"
http://www.kitco.com/ind/Turk/turk_oct272008.html
Breathe in, hold it, then out....
Now, from your calm and objective perspective, maybe we should be asking not "where is price of gold heading" but "what can I buy with an ounce of gold"
http://www.kitco.com/ind/Turk/turk_oct272008.html
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Will be interesting to see where gold goes now that Obama is in, and all the people who talk about the Plunge Protection Team manipulating the price of gold on Comex/Nymex, should be up if they're right?
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when exactly do the new lot take over? is it jan 20 like obama?
Whiskers
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Noticed similar looking H&S on AUD spot gold, GreatPig.
I'm still expecting that gold will go a bit lower to 690ish, but what with the USD likely to fall again and gold falling in EUR and GBP according to those evening stars and rise against the JPY (morning star), which seems to be supported by those other 'stars' on key currencies, it doesn't bode well for any major rise in gold just yet... but that's all dependant on what moves first and to what degree I suppose.
Not putting a lot of weight on our apparent H&S cos I think they are minor charts in the bigger scheme of gold... I hope anyway.
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Gold is in a large double a-b-c correction. $600 looks like a reasonable target as it's dead center of the previous 4th wave triangle. Right now, there's probably some upside to come before heading lower. Don't personally follow the gold market, but looking at the chart from 2000 onwards looks like 5 wave are complete to the high. My 2 cents.
>Apocalypto<
20.03.2012
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well Explode and all the others I had battle with. looks like i and WP had the last laugh.
Gold dropped into the 600's like i said it would and the USD has had a great rally..
but i forgot the usd is a flawed currency and it's doomed. well, all you know it all's forgot to tell the buyers that.......
just though i would rub it in as you all knew so much at the time.
and i all so funded my Alpari account in usd at .94 cents so just on the conversion i am cleaning up.
this is my first and last i told u so.......
cheers
Gold dropped into the 600's like i said it would and the USD has had a great rally..
but i forgot the usd is a flawed currency and it's doomed. well, all you know it all's forgot to tell the buyers that.......
just though i would rub it in as you all knew so much at the time.
and i all so funded my Alpari account in usd at .94 cents so just on the conversion i am cleaning up.
this is my first and last i told u so.......
cheers
chops_a_must
Printing My Own Money
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Lol...
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AUD gold price 12 months ago circa $850 - $900/oz.
AUD gold price now circa $1050 - $1100/oz
Yeah as a holder of physical gold I bet explods miserable ...
I only wish I'd had the foresight to move a lot more out of gold stocks into physical gold.
But all digs aside I'd have to acknoweldge being suprised by the USD strength this year.
(which is to some extent the bigger driver for the AUD gold price rise, and yes the irony is that a direct USD investment would actually have been the best way to go this year).
AUD gold price now circa $1050 - $1100/oz
Yeah as a holder of physical gold I bet explods miserable ...
I only wish I'd had the foresight to move a lot more out of gold stocks into physical gold.
But all digs aside I'd have to acknoweldge being suprised by the USD strength this year.
(which is to some extent the bigger driver for the AUD gold price rise, and yes the irony is that a direct USD investment would actually have been the best way to go this year).
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Oil and Gold Technical Outlook
Focus: Oil, Gold, Silver
Long-term Technical Forecast for Gold
Gold – Weekly Chart
Gold is not clear structurally, but does find support from what was resistance in 2007 below 700. Long term channel support comes in near 625-640 over the next several weeks. The immediate trend is bearish as long as price is below 778.30.
Short-Term Technical Forecast for Gold
COMEX Gold started the day significantly higher and initially broke above a key wedge formation through early trade, but a later reversal suggests that the contract will remain within its recent consolidation range until a clearer shift in trend. Gold’s failure at previous spike-highs of 769, and continued failure at said mark sets up a break below its short-term rising trendline closer to 730.00. Medium term momentum remains to the downside, and a downside break seems the more likely outcome.
Click Here for the full article which also covers Oil and Silver
Focus: Oil, Gold, Silver
Long-term Technical Forecast for Gold
Gold – Weekly Chart
Gold is not clear structurally, but does find support from what was resistance in 2007 below 700. Long term channel support comes in near 625-640 over the next several weeks. The immediate trend is bearish as long as price is below 778.30.
Short-Term Technical Forecast for Gold
COMEX Gold started the day significantly higher and initially broke above a key wedge formation through early trade, but a later reversal suggests that the contract will remain within its recent consolidation range until a clearer shift in trend. Gold’s failure at previous spike-highs of 769, and continued failure at said mark sets up a break below its short-term rising trendline closer to 730.00. Medium term momentum remains to the downside, and a downside break seems the more likely outcome.
Click Here for the full article which also covers Oil and Silver
Ah yeah Apocalypto, you sure told us!
Wanna buy physical silver right now? Spot price ~10USD/troy oz, try and find me any .999 bar less than 40AUD!
Wanna buy physical gold right now? Used to be able to go to any coin store in Wynard and pay standard price of $250 for a sov. Go walk down there now and we are talking $400-450 a sov! Same on eBay RIGHT NOW.
If you were curious, $450 a sov at ~7.7g at 22kt = $2000+ AUD per troy ounce for physical gold!
Wanna buy physical silver right now? Spot price ~10USD/troy oz, try and find me any .999 bar less than 40AUD!
Wanna buy physical gold right now? Used to be able to go to any coin store in Wynard and pay standard price of $250 for a sov. Go walk down there now and we are talking $400-450 a sov! Same on eBay RIGHT NOW.
If you were curious, $450 a sov at ~7.7g at 22kt = $2000+ AUD per troy ounce for physical gold!
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