Gold Price - Where is it heading?

[explod]

Hi explod, I hope you are not one of those many people on ebay currently paying above spot for those coins from that Adelaide coin dealer. There ia frenzy!

By my rough calculations each coin 0.34 troy oz of 0.92 silver = 17 ounces per fifty coins = ~$250-260 at spot price, people have already bid up to $315 with 20h to go!

Like you said, unprecedented.

Just go look at the MACD for HUI.

I have been buying for $5.00 a coin which is ok, $5.30 today. In fact I dont' think it will be as good as this for years. Dealer finding supply drying up and only had a few left after my dip today. Have seen some dealers up to $9 in showcases. Robbers?

 

[sinner]

I am getting the sixpence for between $5-10 at 0.84troz/coin which by my rough calculation I'm paying $9/troz. Not bad, but I don't expect it to last.

 

[alfy]

Hi everyone

As the AUD is weak against the USD, doesn't this mean that any gold purchased now will lose a significant amount of value when the AUD regains strength?

Unless of course the price of gold rose at a faster or corresponding rate.

I'd appreciate an explanation of this relationship. I can find plenty of information on the relationship between the USD and gold, but not the AUD as well.

Thank you very much.

 

[Whiskers]

Hi everyone

As the AUD is weak against the USD, doesn't this mean that any gold purchased now will lose a significant amount of value when the AUD regains strength?

Unless of course the price of gold rose at a faster or corresponding rate.

I'd appreciate an explanation of this relationship. I can find plenty of information on the relationship between the USD and gold, but not the AUD as well.

Thank you very much.

All other things being equal, (which they often aren't) the price in other currencies is usually just a function of the currency conversion. On that note the USD Index has risen over the last year but is expected to fall again soon. The Euro accounts for about half of the USDX with a bit of GBP, JPY and something else... just can't think of it right now.

There's a chart at the bottom of the Kitco Home page which is useful to get a picture of where USD gold is in relation to other currencies. http://www.kitco.com/

 

[chops_a_must]

I think people should take a big look at gold.

Some serious, serious volume being moved through...

 

[cuttlefish]

Yeah gold is getting interesting at the moment - some very nice support for gold stocks at the moment as well and it appears to be starting to act a bit independantly to other sectors of the market.

 

[wayneL]

I think people should take a big look at gold.

Some serious, serious volume being moved through...

There has been some talk about possible problems with delivery on the December contract. I don't know the dynamics, but we're getting towards the end of the contract.

Plus, there seems to be money appearing for all assets. My futures is showing bright green all over the place. Copper and Silver are running HARD.

 

[chops_a_must]

There has been some talk about possible problems with delivery on the December contract. I don't know the dynamics, but we're getting towards the end of the contract.

Plus, there seems to be money appearing for all assets. My futures is showing bright green all over the place. Copper and Silver are running HARD.

Call time on the GLD I think.

Not gonna play the futures options like you will. :

 

[Wysiwyg]

815.00 USD = 1,279.36 AUD

Good value at the exchange rate and they reckon Aussie gold miners are at an all time production low.

Oh and hello Wayne.

 

[Bobby]

There has been some talk about possible problems with delivery on the December contract. I don't know the dynamics, but we're getting towards the end of the contract.

Plus, there seems to be money appearing for all assets. My futures is showing bright green all over the place. Copper and Silver are running HARD.

Hello Wayne,

Long time speaking to you , do hope your well , happy & safe .

Can you elaborate on those futures showing green please

Regards Bob.

 

[wayneL]

Hello Wayne,

Long time speaking to you , do hope your well , happy & safe .

Can you elaborate on those futures showing green please

Regards Bob.

Heya Bobby,

Yep,

All metals, grains, meats and softs are up strongly The only things slightly down on my screen is bonds and , Yen.

You can track futures prices at www.barchart.com or www.futuresource.com

 

[Bobby]

Thanks Wayne,
I do appreciate that

regards Bob

 

[explod]

I dont' believe, Jon Nadler on Kitko has quoted a crdible article on finance and gold which is a worthwhile read today.

A bit of it:

In this respect the present crisis in the West will ultimately end up discrediting mechanical monetarism -- and with it the fiat paper-money system in general -- as the U.S. paper-dollar standard, in place since Richard Nixon broke the link with gold in 1971, finally disintegrates.

The catalyst will be foreign creditors fleeing the dollar for gold. That will in turn lead to global recognition of the need for a vastly more disciplined global financial system and one where gold, the "barbarous relic" scorned by most modern central bankers, may well play a part."

 

[Temjin]

Now I hope this isn't another fake rally for the POG (or fake correction for USD) because it did happen a few weeks ago. The signals were all there but it was false. We just need to wait for the commercial to move all back in again.

And yes, welcome back WayneL.

 

[BentRod]

Heya Bobby,

Yep,

All metals, grains, meats and softs are up strongly The only things slightly down on my screen is bonds and , Yen.

You can track futures prices at www.barchart.com or www.futuresource.com

Welcome back Wayne!

 

[amory]

Good morning Explod.

<< The catalyst will be foreign creditors fleeing the dollar for gold. >>

they've been telling us that for some considerable length of time & aren't everyone getting sick of that "fiat-money" slur on the dollar?

but the fact is that this morning the USDollar does look weak against both the yen & the euro.

I wouldn't write Gold off at this stage.

 

[explod]

Good morning Explod.

<< The catalyst will be foreign creditors fleeing the dollar for gold. >>

they've been telling us that for some considerable length of time & aren't everyone getting sick of that "fiat-money" slur on the dollar?

but the fact is that this morning the USDollar does look weak against both the yen & the euro.

I wouldn't write Gold off at this stage.

Top of the morning to you too Amory.

My rough shorthand writing gets me into trouble a lot. What I did mean is that Nadler has changed stance of late and as he has been such a big part of the propagander machine against gold sentiment, "I could not believe it"

And yes the turn of the $US index probably signals a big change in gold direction. Could we see $US900 by Friday's close, maybe $899

cheers

 

[sinner]

Here is some T/A on gold for the short term

http://www.gold-eagle.com/editorials_08/burak112308.html

Gold EW

http://www.gold-eagle.com/editorials_08/field112408.html

and this one

http://www.safehaven.com/article-11916.htm

Happy hunting folks!

I made my play on late Friday night while the US markets were going nuts and early on Monday morning. Accumulation for me is complete on the physical and stock market fronts (as small as my holdings are). I dropped out of IGR and TRY at a small loss due to some misgivings about their operations and shifted that capital all into RMS.

I think we are at a pivotal moment this week, and now is the time to put your money where your mouth is.

 

[bankit]

Hi All,

Here is some food for thought....."The Gold price over Thanksgiving"

The item that is of most interest is the second last paragraph....

Lastly, there are those shrinking short positions for both gold and silver and the unknown number of holders of December futures contracts who, on Friday, will announce their desire to take delivery of the metal next month rather than having the contracts settled in cash.​

http://www.financialsense.com/fsu/editorials/iacono/2008/1125.html​

Bankit​

 

[chops_a_must]

I expect that to be a consequence for the next few months at least.

If the Perth Mint isn't selling anything, the only way to buy it for big buyers may be to go on market.

Pretty obvious trade really at the moment.