Gold Price - Where is it heading?
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The way the US dollar is holding up amongst the ravaneous money printing is quite astounding. I got bumped out of gold at $845 and will get back in once Obama signs on. Something's gotta give here and its going to be dramatic to say the least.
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I'm overall bullish on gold (no secret) but from a technical perspective I wouldn't rule out it coming down to mid 700's sometime between now and roughly mid-march before it begins a move up again.
That being said it could also just move up dramatically at any time.
That being said it could also just move up dramatically at any time.
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Was going to add that so far the gold majors (LGL, NCM) are still showing good strength and possibly pointing to the longer term direction - with neither of them reacting too badly today to the overnight gold price falls.
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Perhaps its foreign countries buying US debt
explod
explod
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Australian gold price up the last two days the answer here. Huge currency change did that. Today's Herald Sun reports, "local gold down" with the US price quoted. Only buy the rubbish on a Wednesday, you would think a major circulating rag would get this right in the business sector.
Anyway, no one pays attention to gold which will be the greater for us bugs when they do. Notice $US index below the hourly ta for the first time since Friday. Wednesday's most often the turning points on the Comex. We'll see.
it is unreasonable to expect any excitement from Gold when the Fed is quite obviously determined to keep the Dollar intact. the following is out of today's Bloomberg:
<< Gold prices fell to a five-week low as gains by the dollar eroded the appeal of the precious metal as an alternative investment. Silver also dropped.
...............................
‘Flight to Quality’
“The Treasury market is where people have gone,” Zeman said. “It’s a flight-to-quality day, and people want to get out of everything.”
.............................
“The greenback’s rally has further to run, and it is not the bounce of a cat in rigor mortis,” said Jon Nadler, a senior analyst at Kitco Inc. in Montreal. “The question is: How much cash will some wish to raise to head for the hills with?” >>
Flight to Quality ... he's talking about the Dollar ... what do you know?
<< Gold prices fell to a five-week low as gains by the dollar eroded the appeal of the precious metal as an alternative investment. Silver also dropped.
...............................
‘Flight to Quality’
“The Treasury market is where people have gone,” Zeman said. “It’s a flight-to-quality day, and people want to get out of everything.”
.............................
“The greenback’s rally has further to run, and it is not the bounce of a cat in rigor mortis,” said Jon Nadler, a senior analyst at Kitco Inc. in Montreal. “The question is: How much cash will some wish to raise to head for the hills with?” >>
Flight to Quality ... he's talking about the Dollar ... what do you know?
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Do you think it will stay intact when the US has to start paying off its debt? Give it a year, things will get interesting.
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I agree NS.
Notice John Nadlers latest comment
"The greenback's rally has further to run, and it is not the bounce of a cat in rigor mortis,'' said Jon Nadler, a senior analyst at Kitco Inc. in Montreal.
...ok? Who ya gunna call?Attachments
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Gold "could emerge" and, in fact, IS emerging
Woes on Wall Street coincide with gold coin rush US Mint labors to meet
demand as investors buy up assets they can hold in their hands.
The fact that gold is nobody else's liability was really an extremely
important trait for investors in Q3 that were growing increasingly
mistrustful of financial institutions in general.
All comments will be highly appreciated
How can I help you?
Woes on Wall Street coincide with gold coin rush US Mint labors to meet
demand as investors buy up assets they can hold in their hands.
The fact that gold is nobody else's liability was really an extremely
important trait for investors in Q3 that were growing increasingly
mistrustful of financial institutions in general.
All comments will be highly appreciated
How can I help you?
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My timespan for the next phase is months. The Fed is disintegrating right now, with open criticism & dissent from within on what Bernanke is doing. Things are about to get parabolically worse for the world, and Aus won't be immune.
Which means that we will get the double - falling AUS/USD to under 50c and rising $US gold price = $AU gold price over $2k - about the time the Obama factor wears off and every one realises not even He can save them?
Interest rates are effectively zero bound now so the financial creativity about to be experimented with by Bernanke & Paulson has never been used before, within the current set of conditions ie a total collapse of the global financial capitalist system.
http://goldnews.bullionvault.com/money_supply_011320093
Talking about parabolics, interesting to note that Money supply took off immediatly after the link with gold was broken?
Attachments
<< ...a total collapse of the global financial capitalist system. >>
I am sure I have across that phrase before ... maybe a hundred times or more. but it seems to be still around. and it is a safe bet that until such a total collapse of the global financial capitalist system actually does happen, there is little hope for a significant upsurge in Gold.
I am sure I have across that phrase before ... maybe a hundred times or more. but it seems to be still around. and it is a safe bet that until such a total collapse of the global financial capitalist system actually does happen, there is little hope for a significant upsurge in Gold.
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That graph is BS uncle. They cant possibly accurately know the M3 money supply because the fed stopped reporting it back in 2005.
Its also expected that the money supply would grow since the removal of the gold standard. Thats why they got rid of it in the first place.
The problem here, which started 25 years ago, was the growth fueled debt. The US government supported this debt through quasi-government insitutions like freddie mac, fannie mae, and ginnie mae.
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It is true that no one is sure where Gold heading is. This indicates that in future there might be some crucial conditions in the market, which might take time to recover and that time we can see once again a clash.
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.... well, that's just it, they are not still around, and more will follow. One by one the stalwarts of capitalism have & are falling, only the insiders will survive? And GM will soon be back for another lifeline........
The show will be over if you wait for confirmation, as if there isn't already compelling data to suggest a severe global recession is already here at least, and we're not even half way by my reckoning.
Gold is still consolidating from the previous $1k peak. You have to be patient with gold.
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Glen48
Money can't buy Poverty
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Gold could drop to $600, buy more, wait until the Bond market and B.O. party is over and enjoy the ride up.
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possible..no probable..likely. Long term I hold in this environment!
GFMS Ltd: Annual Gold Survey-2008
http://www.im-mining.com/2009/01/15/gfms-publishes-gold-survey-2008-update-2/#more-1348
http://www.im-mining.com/2009/01/15/gfms-publishes-gold-survey-2008-update-2/#more-1348
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You know what Page your absolutely right I have no idea where gold will go.
The crucial conditions are what scare the hell out of me! Value! What are the crucial conditions that you are refering to? What I'm trying to say is its YOUR position to debunk any theory you want?? Thats OK but at least throw up a chart,graph,pictogram,stratified sample,representation...that every regular visitor to this thread would really appreciate to see.. otherwise take a LONG jump off a SHORT pier..No capitalization pun intended..unless your..willing to back up your argument with something logically and rationally considerable?
Totally crazy right!..but ACCOUNTABLE AT THE SAME TIME!Similar threads
