Australian (ASX) Stock Market Forum

Gold Price - Where is it heading?

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A few observations on the charts -
  1. some technicals still not overbought yet, a bit to go?
  2. the negative correlation between the $USD & gold is over, it's now a positive correlation (or, who cares about the $USD??). The world now has 2 choices - gold or USD's (Euro's & Yen made into 2 ply tissue, more useful?)
  3. gold stocks have largely broken the tight correlation with gold about July 08 getting weighed down with the pleb shares. Gold equities have some catching up to do before this cycle is spent?
I blame Japan for issuing 'free' money to the world for 10 years. Stupid capitalists were only doing what any body would do if given the opportunity to take money at 0% and re-invest at 5% to be lent out 50 times over on real estate. Until the log of new houses is cut from the current 10 months supply then more of the same, or worse, and 'To infinity & beyond' for gold?
 

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sinner said:
How's that for a long term look Wysiwyg? ;)

Gold +99999%, guaranteed by explod!
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I like to respect other viewpoints matey.Explod has been riding gold from way back in this thread so obviously bullish bias is still present.

Looks like the bulls and bears are having a tussle for ground at present so we shall see who wins.I myself have been stung too many times going against the bulls :( but I would love to ping the apex (as with any instrument really) so maybe one more go. :eek:
 
Wysiwyg said:
I like to respect other viewpoints matey.Explod has been riding gold from way back in this thread so obviously bullish bias is still present.

Looks like the bulls and bears are having a tussle for ground at present so we shall see who wins.I myself have been stung too many times going against the bulls :( but I would love to ping the apex (as with any instrument really) so maybe one more go. :eek:
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Sinners confidence in my judgement is ill founded. The gold price has its own mind and none of us here will effect its rise or fall one iota. However our deliberations and arguments gives us a guide to improved investing.

If the Dow closes at its current level is will be the lowest daily closing price since 2002. A level with a bit of support, but below that it would fall to 4000. Now think of that for a moment. Our market moves on the slightest sneeze of Wall Street a large fall will take the gold stocks (and everything else) with it and for awhile gold too. LGL's rise could be running out of puff and if I see further weakness this morning will be liquidating that. SBM, well stuck on the Halt but have found that more minor gold stocks less effected by Index movements.
 
Ageo said:
And as i have mentioned earlier the best way to acquire a gold bankroll and do it fast is buy acquiring scrap (which is heavily discounted).

I have purchased 11kgs in the last 4 weeks, its been totally insane.
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Ageo where do you source all your scrap gold from? Do you advertise for it, or run the numbers over ebay scrap?

11kgs is a massive amount
 
Hey did peopel see thsi annoucement about ASX: GOLD?

Whats does it mean? GOLD will becoem AQUA but can still be traded normally as it has been?

Thanks

MS

MARKET RELEASE 20 February 2009 Gold Bullion Securities Limited

SUSPENSION FROM OFFICIAL QUOTATION AND REMOVAL FROM OFFICIAL LIST

The Gold Bullion Securities (ASX code: GOLD) of Gold Bullion Securities Limited (the “Company”) will be suspended from quotation and the Company removed from the official list of ASX Limited as from the close of trading on Friday, 20 February 2009, at the request of the Company under listing rule 17.11. The Company’s GOLD securities will trade as AQUA products pursuant to Chapter 10A of the ASX Market Rules from Monday, 23 February 2009. Investors should be aware of the differences between the AQUA rules and the ASX Listing Rules framework. Further details regarding the AQUA rule framework can be found at

http://www.asx.com.au/products/pdf/asx_aqua_rules_framework.pdf

Announcements from the Company as an AQUA product issuer can be found under the Company’s new name ETFS Metal Securities Australia Limited (ASX code ETP). Security Code: GOLD

Adrian Smythe Principal Adviser, Issuers (Sydney) Page 1 of 1
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moXJO said:
Ageo where do you source all your scrap gold from? Do you advertise for it, or run the numbers over ebay scrap?

11kgs is a massive amount
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Im in the jewellery industry and i started early last yr buying just small amounts, until it got to the point where it became full time. Main customers are my jewellery retailers/wholesalers & pawnbrokers, i also buy a fair amount from private people. I tried buying on ebay once (small amount) and it was gold plated but stamped 9ct etc.... i will never buy on ebay again for scrap.

I have come across just about everything in the scrap market and atm its the busiest sector out of all jewellery sectors.

The problem with the comex market and physical is that the price just does not correlate as the demand for physical is outrages and the comex has only moved a fraction compared to what should have happened (thats why im still bullish on gold prices). People can quote me stats all they want but when i see with my own eyes kgs and kgs of bullion being sold (and still having a line up) then you know something's out of wack.

But again just personal experience.
 
michael_selway said:
Hey did peopel see thsi annoucement about ASX: GOLD?

Whats does it mean? GOLD will becoem AQUA but can still be traded normally as it has been?

Thanks

MS
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Don't worry, GOLD.ax will still be traded normally as it has been. The introduction of the ASX AQUA rules, based on my brief understanding so far anyway, is to facilitate certain issuers to better manage their securities listed on the Australian Stock Exchange. The securities in question are those who do not operate as a business and are valued based on an underlying asset / index that they have absolute no control in and have open transparent price discovery. (i.e. currencies, commodities, index tracking) Unlike stocks like BHP where the issuers have control on its pricings (they can make it cost $300 / share or $1 / share) and have direct/indirect influence on its values through management decisions.

Basically, it's a new set of sub-rules to cater for Exchanged Traded Funds that are so popular and mainstream in the US and UK. And by comparsion, still fairly new and under-used in Australia.

So it only affects the issuers, not the investors. And it probably make their job easier too because they don't have to release quartely/half or annually financial reports, etc, and a few more rules that are quite applicable to them.
 
Ageo said:
The problem with the comex market and physical is that the price just does not correlate as the demand for physical is outrages and the comex has only moved a fraction compared to what should have happened (thats why im still bullish on gold prices). People can quote me stats all they want but when i see with my own eyes kgs and kgs of bullion being sold (and still having a line up) then you know something's out of wack.

But again just personal experience.
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So how do you set/get a selling price for your gold - spot, futures??? Could you outline a typical cycle you go through for the scrap you get eg buy scrap for $???? based on ??? price then melt it down?? then sell it to ??? for $?????
 
Uncle Festivus said:
So how do you set/get a selling price for your gold - spot, futures??? Could you outline a typical cycle you go through for the scrap you get eg buy scrap for $???? based on ??? price then melt it down?? then sell it to ??? for $?????
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Might help with pricing.

http://www.wikihow.com/Calculate-the-Value-of-Scrap-Gold

Separate your scrap gold into their various karat fineness (i.e. 10k, 14k or 18k). You may need a magnifying glass to see the number inscribed on the piece. If not, you may need to have the gold tested by a reputable dealer. There's also the possibility that some of the gold is actually just gold-plated, which a dealer would determine with certainty by using a chemical test.[2] If you're uncertain, read up on How to Tell if Gold Is Real.


If you have any gold coins, they may have a numismatic (coin) value above their metal value, based on age, rarity, and condition. Take it to a coin dealer; you may be able to get more money that way.
Other sources for small amounts of scrap gold include: old cell phones, computer motherboards and other scrap electronic circuit boards.
Determine the gram weight of each group by using a gram scale. If you can only weigh by the ounce, convert to grams by multiplying by 28.35 (e.g. 2 oz. = 2 x 28.35 = 56.7 grams).
Determine today's price of gold. You can find this on the Internet[3], [4] or in your local newspaper. Fine gold as of this writing is about $900.00 per troy ounce. (A troy ounce equals 31.1 grams. This never changes.) The price of gold fluctuates according to supply and demand.
Divide today's gold price by 31.1 to get today's gold price per gram.
Multiply by the fineness of the gold. For each group of gold, divide the karat by 24, then multiply that number by today's gold price per gram. For example, if you have 10KT gold and the current price of gold is $28.94 per gram ($900.00 / 31.1), then the price of your scrap gold is $28.94 x .4167 = $12.06 per gram.


10KT = 10/24 = .4167
14KT = 14/24 = .5833
18KT = 18/24 = .750


Multiply the price per gram by the weight in grams. If you have 10 grams of 10KT gold and you calculated the price at $12.06 per gram, then your scrap gold is worth 10 x $12.06 = $120.59.



Examples
If you have 5.0 grams of 14KT scrap and gold is $900.00 today, then $900.00 divided by 31.1 equals $28.9389 multiplied by .5833 (14KT) equals $16.88 per gram. $16.88 multiplied by 5.0 grams equals $84.40.
Now let's say you have 15.3 grams of 10KT gold scrap. $900 divided by 31.1 equals $28.9389 multiplied by .4167 (10KT) equals $12.06 per gram. $12.06 multiplied by 15.3 grams equals $184.52.
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Gold prices cannot say were it is moving it was predicted that it was going to come down but not seeing any such positions.
 
BentRod said:
Hard to say Trembler.
He is pretty quick on that laptop though, have a look at him in that Av pic. :D
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Oh great here we go again, another belly acher! lol!

I think the funny thing is i was thinking the same thing.:D

CanOz
 

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