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Gold not looking too good last night. Still in a range of longer term trend support imo but possibility of it breaking down further from here in the short term I guess.
well I'm happy.
Now gotta decide when to get back in. UF whats your basis for a 50cent AUD-USD? You are strong US or weak Aussie?
Gold not looking too good last night. Still in a range of longer term trend support imo but possibility of it breaking down further from here in the short term I guess.
I think I might be a reverse indicator for gold ... whenever I post a comment with a negative view the price goes up the next day lol.
Gold down to $300 by the end of the month
Newcrest is up 5% or so at the moment. Seems a predictable pattern. As risk tolerance decreases people are heading for Gold. The down trend needs to continue for the Gold Bulls to profit.
Gold Bugs.....
If the equity markets really start to crumble look for Gold and the USD Index to rise.
No they can't I hear some of you cry, yes they can and they did it this year.
cheers,
Gold price could hit $1,500
The aggressive monetary policy of central banks around the world is playing havoc with the structure of the bullion market, creating a chronic shortage of gold that may soon push the metal to fresh records above $1,500 an ounce.
By Ambrose Evans-Pritchard
Last Updated: 12:11PM BST 20 Apr 2009
Charles Gibson, a gold expert at Edison Investment Research, argues in a new report that negative real interest rates (below inflation) in the US and beyond has upset the "leasing" machinery in the gold industry and led to a sustained market squeeze.
This is what occurred in the late 1970s, driving gold prices to $850 and ounce – roughly $1,560 in today’s terms. Gold finished last week at $870.
Mr Gibson said the powerful dynamic could lead to a second leg of this gold bull market, even though the metal has already enjoyed a torrid run over the last eight years.
In normal times, gold mining companies sell – or "hedge" – a chunk of their output in advance through bullion banks. These banks cover their positions by leasing gold from central banks. This bread-and-butter trade created excess supply of 500 tonnes each year until the start of this decade.
Low real interest rates have caused the process to reverse, creating a shortfall of about 500 tonnes. The process accelerates as rates turn negative, leading to a scramble by market players to find physical gold.
There are already reports that gold bars are becoming scarce, partly due to fears that futures contracts and other forms of paper gold may not prove reliable if there is a serious break-down in the global financial system. Pure metal ”” whether Krugerrands, Maple Leaf coins, or the "five tael biscuit" favoured by the Chinese – entail no counterparty risk.
•Banks May Struggle to Raise Money After Stress Tests as Bad Assets Triple
China increases gold reserves to be fifth largest holder, gold rises
How any of you can put any faith in the writings of Jon Nadler is beyond me. This is the guy who was saying "it's over for gold" when the most recent upleg from 681 began.
Can't understand you gold bulls. This thread has been sooo quiet during this decline & few days of short covering bring this thread alive.
Better money to be made elsewhere IMO.
Agree, some of the gas plays have been fantastic but gold will be the big one to come, never seen such an opportunity.
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