Gold Price - Where is it heading?

[Ageo]

Not mention that if you track the price in $AU it looks even worse......

Beej

tell me about it hehe.......

Normal when gold goes down the dollar goes down but when the revers happens its like a double slap in the face.


But then again last January saw us seeing the gold flying up and the dollar falling which was a double cognac serving each time.

It needs to set itself up for the sept/oct run which should push over the 1300 mark.

 

[skyQuake]

Bit quiet in here recently. Must be time to stir the bugs,

Interesting. Equities, Oil, Commodity currencies all making new year highs. conspicuous by its absence in the new highs list was...... GOLD. Now that we are due for a pull back of sorts doesn't bode well for that triangle thingy on the POG.

Boy oh boy she's an unrewarding Mistress this gold game. :

But ya never know, maybe next week.

Yeah, day before yday oil rallies and usd tanked but gold stayed flat. Looks like some selling pressure on gold lately.

Opposite situation was active a while ago at $930s when gold shrugged off neg oil and usd and just ran.

 

[Trembling Hand]

Looks like some selling pressure on gold lately.

Bloody [INSERT - Manipulators, PPT, Pope, whoever ]

 

[explod]

Bloody [INSERT - Manipulators, PPT, Pope, whoever ]

As soon as I go away you all get/or dont' get nervous. There's no worries.

Gold now trading between support US$925, if it holds and 950, the pennant is getting tight now so the break, whichever way is only a few weeks away now. Many pundits say that into the Fall, US autumn, so the end of August usually is strong for gold.

But still say its about the US dollar which came within a whisker a few days ago of breaking through support. Interesting observation of one was that they jacked the dollar up for a visit by Chinese Officials to talk about, you guessed it currency strength.

 

[Trembling Hand]

Explod you ignoring the divergence with highs on everything except Gold?


Nothing to worry about?

 

[explod]

Explod you ignoring the divergence with highs on everything except Gold?


Nothing to worry about?

Not sure I copy that t/h. ?

But gold with continuing higher lows is what I am seeing. Having said that I am not trading it at the moment just holding my long term physical.

 

[Trembling Hand]

Not sure I copy that t/h. ?

But gold with continuing higher lows is what I am seeing. Having said that I am not trading it at the moment just holding my long term physical.

see post number #6917

Gold & Silver are showing weakness compared to just about everything else. Isn't this yet another time the bugs are wrong. Should gold "in theory" be running wild with all this money printing going on? But its everything that Gold bugs hate thats been the winners and gold just made another lower high!

 

[Sean K]

see post number #6917

Gold & Silver are showing weakness compared to just about everything else. Isn't this yet another time the bugs are wrong. Should gold "in theory" be running wild with all this money printing going on? But its everything that Gold bugs hate thats been the winners and gold just made another lower high!

Gold Bugs are medium-long term investors I think TH.

We need to wait a while to see if they are right or wrong.

I think right, but in the short term. eeeek

 

[explod]

see post number #6917

Gold & Silver are showing weakness compared to just about everything else. Isn't this yet another time the bugs are wrong. Should gold "in theory" be running wild with all this money printing going on? But its everything that Gold bugs hate thats been the winners and gold just made another lower high!

Broadly it has held its own. Most of the stock market has in the last year contracted 40% . Gold is still where it was back then. Maintaining overall equity has been fine for me.

We will see.

 

[Trembling Hand]

Gold Bugs are medium-long term investors I think TH.

We need to wait a while to see if they are right or wrong.

I think right, but in the short term. eeeek

Yeah sure they will take some short term heat from time to time. And AUD bugs are certainly taking that at the mo.

But I've been listening and at first agreeing with the Bugs since 2001. firstly the banking/Capitalist system was going to implode, which it just about did, and gold was going to go from $300 to $5000. Which it didn't.

Now they tell us that because of the printing presses running hot gold has to take off. When its actually lagging. Is this the second sign of a breakdown in the Gold/PM run?

Or just another head fake before the stars align?

 

[Sean K]

Or just another head fake before the stars align?

Just another baulk I think. They are going to get past and kick a goal.

I hope...

Or, gold investments are going to be ordinary..

 

[MRC & Co]

Yeh, there are a few breakdowns of correlations lately.

Oil in particular is taking a beating, along with gold.

Dr copper and equities appear to be the big gainers.

USD index is not really going anywhere, still very choppy.

 

[explod]

We have seen the false start and the consolidation. Now that more and more people are starting to realise inflation is about to go nuts and that is good for Gold.

Guycharls back in 2004, the first post of the gold thread, Joe Blow made the second post and was a bit on the bullish side at that time.

Its not my thread, but I love it and acknowledge the amazing amount of great contributions. To keep it going that way I have been thinking (dangerous you say??) that we think perhaps too much about the short term, perhaps.

Gold is merely a store of value, its like a block of ground which you can sit on, gold you can hold, it has a physical presence. If one digs the garden you can see the result, build a house, you have made value. However a piece of paper or a computer entry requires faith at both ends of the deal to honour that value agreed apon. If one cannot pay then the value is nought.

In the last 3000 years gold has always held a relative value to tangible assets. I look on it only as a hedge to maintain the basic equity of my overall portfolio. In the last four years it has done that.

Gold shares are very risky and only a very small part of my trading goes to them. In the last year many small caps dissappeared altogether, if the market goes down the gold stocks go with them. I have been re reading a lot on the fundamentals of holding gold and have a lot more on my mind. Just wanted to perhaps introduce some discussion to get this thread back on the track I think was originally intended.

cheers explod

 

[>Apocalypto<]

Guycharls back in 2004, the first post of the gold thread, Joe Blow made the second post and was a bit on the bullish side at that time.

Its not my thread, but I love it and acknowledge the amazing amount of great contributions. To keep it going that way I have been thinking (dangerous you say??) that we think perhaps too much about the short term, perhaps.

Gold is merely a store of value, its like a block of ground which you can sit on, gold you can hold, it has a physical presence. If one digs the garden you can see the result, build a house, you have made value. However a piece of paper or a computer entry requires faith at both ends of the deal to honour that value agreed apon. If one cannot pay then the value is nought.

In the last 3000 years gold has always held a relative value to tangible assets. I look on it only as a hedge to maintain the basic equity of my overall portfolio. In the last four years it has done that.

Gold shares are very risky and only a very small part of my trading goes to them. In the last year many small caps dissappeared altogether, if the market goes down the gold stocks go with them. I have been re reading a lot on the fundamentals of holding gold and have a lot more on my mind. Just wanted to perhaps introduce some discussion to get this thread back on the track I think was originally intended.

cheers explod

no matter how u plug/preach it Explod, it's still in a range and not going any where till 1000 or 750 is moved though.

time will tell

 

[explod]

no matter how u plug/preach it Explod, it's still in a range and not going any where till 1000 or 750 is moved though.

time will tell

Ah, a nice weekend away from screen.

..."Plug it"...? I pointed out the risk in trading gold shares.

My interest is only for preservation and hedge of portfolio, gold is up 5.2% for the last twelve months so my physical holdings have done the job.

Not sure of your range either, seems to have established good support now at US$920, bullion banks cap at 960 is the one to cross on the up. A very good jump at the close Friday night.

Lets see what the week brings.

 

[Trembling Hand]

Lets see what the week brings.

Well its started well explode. POG & POS (Oil aside) are the greenest finishers to last week and have started the week well.

I actually think your chances of a massive breakout this month are on the cards. I will be away from the screens all of August/Sep. I will not be manipulating the price lower any more with my 2 lot on COMEX.

 

[Uncle Festivus]

Well its started well explode. POG & POS (Oil aside) are the greenest finishers to last week and have started the week well.

I actually think your chances of a massive breakout this month are on the cards. I will be away from the screens all of August/Sep. I will not be manipulating the price lower any more with my 2 lot on COMEX.

Uh oh, time to go short !

Some interesting happenings with the treasuries/notes auctions as usual, this time along the lines of changing the goal posts of the definition of indirect buyers, ie it could mean that the Fed & or treasury will step in to mop up the slack, not that they don't already ie last weeks 7 yr auction had indirect buyers amounting to 67% of the total!

The problem with all of this short term debt issuance is that at some stage it will have to be rolled over, most likely at the same time as more new debt is being issued ie The Sara Lee scheme - debt apon debt apon debt.

As bad as that is, it still pales when compared to Chinas reflation efforts.

 

[explod]

As some have already mentioned today, gold is looking strong at the moment.

My focus is allways the US$ undex. Just steadily tonight it has fallen through resistance (78.20) the next main support being 76.00. When the index was last at 78.20, about November last year the gold price was around US$800 At the next support area (76) gold was at about 900 The previous rises and falls of the index at these critical times were swift. Does an index value of 96 read as a US$ gold price of 1,050..............would seem so

We are getting close I think

 

[solomon]

There is some volume going through tonight and it isn't bringing the price down, looks very intersting.

 

[Tradesurfer]

That old resistance are $1000-$1040 is still important. If it can break above those levels then atleast a long position would have a nice area(old resistance now support) where they would be able to place stops incase it went and violated the breakout.

As mentioned, US Dollar Index moving lower boosts commodities as they are dollar priced.