Gold Price - Where is it heading?

[solomon]

I thought this was a gold thread but it seems while the Gold chart just went exponential we're intrigued by the vagaries of random poster Page.

 

[So_Cynical]

I would think the big 1k is not outa the question tonight...perhaps a new record even. :cowboy:

 

[solomon]

I'm way too tired to stay up for it, but it is very likely that tonight will smash through the 1k. Looks good for my goldies TRY and HEG.

 

[nunthewiser]

quick short

 

[Wysiwyg]

I would think the big 1k is not outa the question tonight...perhaps a new record even. :cowboy:

Go bulls go, Go bulls go, Go bulls go.Yaayyyy.:

 

[nunthewiser]

doubled short

 

[nunthewiser]

out ............ hardly worth the bother ......pizza

 

[CanOz]

Hanging on for while.

 

[electronicmaster]

And a small (i hope) correction. It needs to pass 1200.00 USD

 

[Wysiwyg]

Just wanted to be first to post people are buying spot contracts at over 1000USD/ounce of gold again.Go bulls go, go bulls go.:

 

[cuttlefish]

its showing some potential now isn't it ... the next few weeks will be interesting.

 

[Trembling Hand]

its showing some potential now isn't it ... the next few weeks will be interesting.

Yes. Are,

1. The big Boyz gonna step up and push it into the stratosphere.
2. Retail punter gonna blow the top off it and spoil your fun.
3. or are we going to get an orderly rotation back into previous levels with the odd roll higher.

Think 3 the most likely and best case for the bulls and a long term trend.

 

[Glen48]

More Gold goes up the more indication the World is heading for a depression, I predict at least 2K and oz soon, some expert was say 1,500 in 2 3 yrs.
Now I can stop eating the Dates of the Calender and use some profits.

 

[Stormin_Norman]

im suspecting a breath somewhere around here as profit takers and goldbugs even themselves out.

figures are deflationary atm. but when the increase in money supply flows through to the real economy - watch out.

 

[explod]

3. or are we going to get an orderly rotation back into previous levels with the odd roll higher.

Think 3 the most likely and best case for the bulls and a long term trend.

Respect your take, I have none, just go with the flow. But would be interested in why you think 3 most likely?

However I do think there is some momentum in this move and eyes are looking at opportunities and to where the only show in town is at at the moment. At the end of the day we really are only followers.


To all and sundry, notice gold closed around US$993 on Kitco and $1002 on the Stockcharts log.

 

[joeyr46]

im suspecting a breath somewhere around here as profit takers and goldbugs even themselves out.

figures are deflationary atm. but when the increase in money supply flows through to the real economy - watch out.

I think that is the key it is deflationary in America and it's gold against te US dollar so gold should fall befor it goes screaming up as it is an inflation hedge
Monthly stochatic and MACD are both very bearish at the moment and the move up from $680 does not look impulsive looks more like a B wave in Elliot terms which are sucker rallys look convincing only to fully retrace. Could still go to a new high just to make sure every ones on board but as I said if were in for deflation in America then it has to have a descent correction sometime soon

 

[explod]

I think that is the key it is deflationary in America and it's gold against te US dollar so gold should fall befor it goes screaming up as it is an inflation hedge
Monthly stochatic and MACD are both very bearish at the moment and the move up from $680 does not look impulsive looks more like a B wave in Elliot terms which are sucker rallys look convincing only to fully retrace. Could still go to a new high just to make sure every ones on board but as I said if were in for deflation in America then it has to have a descent correction sometime soon

Last night the US dollar index turned down against unexplained rises in some of the European currencies. In spite of the talking up via the media deflation could be close to its end. It has been strong and swift, the reverse of the wave to inflation may well catch by surprise as quickly. And the suckers havent' reall noticed gold yet. Wait for Allan Kolher to pump before expecting the weakness.

 

[joeyr46]

Last night the US dollar index turned down against unexplained rises in some of the European currencies. In spite of the talking up via the media deflation could be close to its end. It has been strong and swift, the reverse of the wave to inflation may well catch by surprise as quickly. And the suckers havent' reall noticed gold yet. Wait for Allan Kolher to pump before expecting the weakness.

I'm watching it (us$) mainly against Gold and the way everyone is expecting inflation to take off because they are printing money. I think we've got a lot of debt to be wiped out before we can go into inflation so maybe in a few years
Could be wrong . Must admit some of the gold stocks are looking really good at the moment so I may be badly wrong interesting times at the moment.

 

[sinner]

Hi guys,

I like Chris V so please forgive me posting his articles a bit often...

http://www.safehaven.com/article-12639.htm

He has been calling for gold correction for a couple of weeks now, so wrong on that count. But his basis is the HUI:GOLD ratio, which indicates gold has been outperforming gold stocks for the last two months. This is generally not bullish for gold. His charts still have a little bit of room to move before being right or wrong.

Worth taking a look imo, since it also covers silver and oil there is too much article for me to paste. I will include a small snippet where he covers his **** :

The HUI is also in a bearish rising wedge.

The massive gold inflows can be seen two ways:

1. Gold is about to shoot through the roof as everyone around the world piles in as a safe haven for their money.
2. We are getting the same inflows which we had when gold topped out 6 months ago, indicating investors are loading up on gold cause it looks so bullish, but really they are the last of the buyers before this 3 months rally ($300 gain per ounce) is ready for a cool down phase.

i.e. something will either happen, or it won't

 

[pacestick]

Does anyone think we have a gold bubble appearing the thought is starting to occue to me simply because p[eople are acting like it will always go up and all the other bubbles did that before they popped