Gold Price - Where is it heading?

[Ageo]

lol well the people that buy it are idiots (the seller is laughing).

 

[explod]

Explod!!!!!!!!!!!!!!!

edited to try and allow the discussion to stay on topic

but on a different note I think the usd is cluttering up and due for a decent pull back. to 75.

I will say that spot held up well in the usd rally. i have never seen such a butchering like what happened to the AUD/USD

i hope the cancer issue is resolved for u

Agree with your obbs. As for the cancer, found out that my op to remove prostate will be 3rd of December, so will be off the catherter for Christmass. Was hoping to still have the bag so I could drink unlimited beer without the toilet. However my health is good, the cancer is contained within protate so should have many more years in which to annoy for the future. Thanks for your concern.

cheers explod

 

[CanOz]

Agree with your obbs. As for the cancer, found out that my op to remove prostate will be 3rd of December, so will be off the catherter for Christmass. Was hoping to still have the bag so I could drink unlimited beer without the toilet. However my health is good, the cancer is contained within protate so should have many more years in which to annoy for the future. Thanks for your concern.

cheers explod

Good luck with your OP Explod....i hope you find new capacity to hold copious amounts of Ale.

Cheers,


CanOz

 

[Uncle Festivus]

Keep the focus, stay with the fundamentals.......through the veneer of financial illusionists.

All fiat money is a function of debt and confidence.

But there’s a major difference between now and the 1930's. During the ‘30s nobody had dollars. Dollars were scarce as frog's teeth. If you did have dollars in the ‘30s, nobody doubted their value. Today I doubt the viability of Federal Reserve Notes (dollars). I wonder what they'll be worth a few years from now. Fiat currency is “fool's money”. It’s only money because some qovernment says it is. All fiat money is a function of debt and confidence. There's only one currency that represents intrinsic wealth (no debt) on its own. And it's gold. If you can’t understand that, you’ll never understand why men over thousands of years have fought, explored, and died in the never-ending search for gold.
Nov 7, 2008
Richard Russell

http://www.321gold.com/editorials/russell/russell111008.html

 

[amory]

<< There's only one currency that represents intrinsic wealth (no debt) on its own. And it's gold. If you can’t understand that, you’ll never understand why men over thousands of years have fought, explored, and died in the never-ending search for gold. >>

this is exactly right U.F. & I am not intending to argue about it. but what if someone decided - perhaps even at the current G-20 meeting - that gold is now an anachronism & that another form of currency alignment is called for?

I know the idea has been variously proposed in recent times, but cannot at the moment substantiate the sources.

anyway ... what if?

 

[Uncle Festivus]

this is exactly right U.F. & I am not intending to argue about it. but what if someone decided - perhaps even at the current G-20 meeting - that gold is now an anachronism & that another form of currency alignment is called for?

I know the idea has been variously proposed in recent times, but cannot at the moment substantiate the sources.

anyway ... what if?

I think the controllers of paper money & the fractional reserve system have long ago decided that gold was indeed a anachronism & the gold standard was a barbarous relic simply because it stood in the way of responsible money management and allowed unrestrained credit (& debt) growth. They are now able, in the words of Bernanke himself, to print unlimited amounts of backless paper money. And so we now have a global mistrust of anyone who has debts denominated in those paper moneys, most notably the worlds reserve currency, the $US.

They can align themselves to whatever paper currency they like, but over time and humans being what they are, it all ends the same way?

I nominate the Swiss Franc, at least it's got some gold backing. Why not the US with all their gold? We simply don't know how much they have, if any. The official total hasn't changed since March 2006!

Actually you want to hope they don't decide on an alternative to the US dollar - all those foreign holders of trillions of US dollars left high & dry with worthless bits of paper?

Just like the First Great Depression, gold is in a transition stage biding it's time for the moment the world realises the $US game is over?

 

[explod]

<<

this is exactly right U.F. & I am not intending to argue about it. but what if someone decided - perhaps even at the current G-20 meeting - that gold is now an anachronism & that another form of currency alignment is called for?

I know the idea has been variously proposed in recent times, but cannot at the moment substantiate the sources.

anyway ... what if?

The financial systems have been asserting just that and if you read the history books the supression of gold has been attempted many times before. It did not work and will not work. A piece of paper or instrument without value (in fact backed by debt) fails as exchange.

Anyway lets say that someone decides on another form of currency, where will that leave gold. Gold is only .005% of the total financial market, it is insignificant, it is rare and some people get very excited about it. The middle eastern blocs are buying billions in gold bullion each week, Dubai 3.5 billion in the last fortnight and they are knocking back US dollars as payment for oil, seeking Euros or gold instead. And gold has gone up about 85% since 2004.

If only another .005% of the financial market seeks gold there will not be enough to satisfay demand. In fact dealers around the world are running out of it, orders for silver have long delays and some bullion suppliers have shut their doors. I think gold is a good and safe investment whether money or not in these very uncertain times.

 

[Ageo]

Well lets look at Zimbabwe......... If you are a citizen there would you prefer to have their currency or gold instead? Imagine the US dollar collapsing? People living there would rather want gold and silver than paper (as gold and silver is the next best thing in terms of money). Right now in the jewellery market trading scrap gold and older gold jewellery has become the norm (for me anyway). All my customers are cash poor but asset (jewellery stock) rich so they use the form of gold as payment.

Remember the value of gold and silver will always have better purchasing power than paper over time (that is fact).

I even know people purchasing items in pawnbroking stores with gold!

$1000 of cash yrs ago will buy you much less today

$1000 worth of gold yrs ago would buy you much more

 

[Ageo]

This is a very interesting article..... certainly this man is a gold bull

http://www.moneyandmarkets.com/the-g-20s-secret-debt-solution-27996

I would not be surprised to see the G-20 monetize at least 20% of the U.S. debt markets. THAT MEANS …

Gold would be priced at over $10,000 an ounce.

Currencies would be devalued by a factor of at least 12 to 1, meaning it would take 12 new dollars or euros to equal 1 old dollar or euro.

 

[kransky]

he makes some pretty big calls... we will know very soon if he was right

need more gold damn it

 

[CFDTrading]

Hi Everyone,

Our analysts at CFDtrading think that gold is headed south, in the long and short term.

Here are two charts with their analysis.

Long-term Technical Forecast for Gold

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 prices showed a false break below their recent trading wedge, but a very near-term bounce has thus far kept the commodity price above key support levels. A progressively narrower trading wedge tells us that a breakout is imminent, and a medium-term bearish trend leaves our bias to the downside. Important support levels come in at the 725.00 mark, and a further break will likely see a decline to psychologically significant support near the 700.00 mark.

 

[stoner]

Hi Everyone,

Our analysts at CFDtrading think that gold is headed south, in the long and short term.

Here are two charts with their analysis.

So is pretty much everything else!

Looks like there is only bull market in town. GOOD OLD CASH!


All the best

STONER

 

[amory]

they say I'm always bearish Gold - I have been in the past & of course right all along, amidst much contempt & ridicule.

but when I look at the charts, not so sure at this exact point in time.

what about if it breaks upwards? there's a lot of clear sky there ... say en-route 820.

question: what would it take to bring about such a change? in the first instance, a sharp downturn of the USDollar. this is something the Fed is doing their best to prevent at all costs ... forget about that one. for now anyway.

what else? an upswing in the Dow ... overdue if you ask me. in that case, Gold just as likely to move up with it, the way its been undecided lately.

just a thought ... let us see what happens. if the Dow continues on down, all bets are off re the POG going up. it will most likely follow the path of least resistance ... down with the Dow.

unless that Dollar ... see first instance above.

 

[arco]

.
If you look at the long term TL from circa 2002, Gold still has a bit
further to go before it tests that line.

 

[explod]

they say I'm always bearish Gold - I have been in the past & of course right all along, amidst much contempt & ridicule.

This is not about right or wrong, just our best views, so don't worry on that count

but when I look at the charts, not so sure at this exact point in time.

medium it is sideways with a down bias

question: what would it take to bring about such a change? in the first instance, a sharp downturn of the USDollar. this is something the Fed is doing their best to prevent at all costs ... forget about that one. for now anyway.

I think this is wrong. Europe and Asia want to and are keeping it up becuase they hold us treasuries, the Fed want it down so that it wipes away debt. Think about it, dropping interest rates cheapens money.

what else? an upswing in the Dow ... overdue if you ask me. in that case, Gold just as likely to move up with it, the way its been undecided lately.

If you look at the Dow chart it is right on the cusp of falling off the cliff big time. The news just keeps getting worse so watch thier space.

just a thought ... let us see what happens. if the Dow continues on down, all bets are off re the POG going up. it will most likely follow the path of least resistance ... down with the Dow.

The tendency of gold and the Dow in tandem is only a recent aberration. Since 2002 gold is up over 100% the Dow down 20%. The recent huge rise in the US$ index is about huge shifts in assets around the globe, it will end soon as spectacularly as it rose and gold will move counter, as it always does.

 

[Ageo]

How come no1 is talking about the physical market??? gold lease dec expiry coming up which will probably issue a shortage on gold??? people demanding more gold as supply is tightened (try buying bullion from any bullion house) and yet despite all this gold is still down????

I hope the comex market crashes if people do a gold run since the bullion houses dont have enough in their vaults (similar to a bank run) and the price follows the physical (which cannot be manipulated as much as the comex pricing).

Perhaps there might be some down turn but to me its only short term.....

 

[sinner]

At the moment the conspiracy to bust the COMEX is just that, a conspiracy.

As much as I'd love my gold holdings to "double overnight", I'll believe it when I see it.

I'd rather see the US try to monetize some of their debt.

 

[explod]

At the moment the conspiracy to bust the COMEX is just that, a conspiracy.

As much as I'd love my gold holdings to "double overnight", I'll believe it when I see it.

I'd rather see the US try to monetize some of their debt.

I think it is the other way around. It is the Comex (backed by the banks and financial industry) trying to bust the gold following. Money pays interest, trailing fees and commissions, gold does not. Gold has its own value which cannot be diluted in the long term, money loses value as they print more. As the financial system is currently structured, gold is the enemy so expect a fight for awhile till the finacial system falls all the way over. And by the lack of any change coming out of the G20 at the weekend it is going to happen soon.

 

[GreatPig]

The tendency of gold and the Dow in tandem is only a recent aberration

Here are charts of the DOW/Gold ratio. Over the very long term (many decades) the DOW outperforms gold, as shown by the ratio trending up. However, over time frames that matter to individuals, the ratio has moved a lot, with the current short-medium term trend being down - DOW falling, gold rising (relative to each other).

The 1901+ chart would indicate that if the ratio returns to the bottom of the marked channel again, then it will halve from where it is now (it's currently just over 11 by my calculation). That could be something like DOW 7000 and gold $1400, DOW 6000 and gold $1200, etc. If it did a major overshoot though, down to something like one as in 1980, then you'd be talking about either gold prices 5 times as high or the DOW a fifth of the value!

GP

 

[Dowdy]

Hi Everyone,

Our analysts at CFDtrading think that gold is headed south, in the long and short term.

Here are two charts with their analysis.

Don't chart dont mean jack in this market. Did they predict that the AU dollar would plummet in a few months. The markets are being manipulated and they won't be able to do it for long.

http://www.gata.org/