wayneL
VIVA LA LIBERTAD, CARAJO!
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As I mentioned before, a seasonal bull coming up too.
Gold Price - Where is it heading?
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Sean K
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OMG! Wayne posted a chart!
Looks prospective to break up doesn't it.
But, there's been a few false starts.
explod
explod
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OMG! Wayne posted a chart!
Looks prospective to break up doesn't it.
But, there's been a few false starts.
Go way, sometimes Kennas, you're just like an old tart. (Course I am an old fart)
This break out of the pennant is a very significant one. The gloom and doom fundamentals kicking in as well. Said it would take the breath away, well I reckon we aint seen nuthin yet.
Trembling Hand
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False break anyone? Of course this time it could be different.
Cuttlefish I would not use that one to base a decision on. Its the same for all futures in the world. Futures contracts outstanding NEVER = physical.
Its a favourite of the tin hat brigade but its BS. Just like the furphy of adding up all the derivatives contract value together and saying there is 872,000,000 trill dollars or whatever the latest is.
Cuttlefish I would not use that one to base a decision on. Its the same for all futures in the world. Futures contracts outstanding NEVER = physical.
Its a favourite of the tin hat brigade but its BS. Just like the furphy of adding up all the derivatives contract value together and saying there is 872,000,000 trill dollars or whatever the latest is.
False break anyone? Of course this time it could be different.
Cuttlefish I would not use that one to base a decision on. Its the same for all futures in the world. Futures contracts outstanding NEVER = physical.
Its a favourite of the tin hat brigade but its BS. Just like the furphy of adding up all the derivatives contract value together and saying there is 872,000,000 trill dollars or whatever the latest is.
There is always supply at a price.
Could i be right for once?????
eek:Anything over 1200AU should be traded with caution!
P.S Refiners have bumped their spread today, so that means only 1 thing (price movement) but the only question is which way from here?
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Aussie dollar gold price is breaking out of the trend
explod
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And that is a part of it all, the old relic has sentimental followers (call them fools or what you will) but when the sentiment for gold winds up at a time when most other things in the financial world are looking dogy then this sentiment is predicted to be something to behold. Aussie dollar or no aussie dollar.
Worth googling gold and its history for background and references to other takes.
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alot of manipulation int he gold market by the powers that be, but seem slik ehti sis a reaction from chinese saying they can screw the banks on their contracts. I expect it to come down again
GOld up and over that triangle now - $983. Let's see if it will push up and test the big three zeros tonight?! Am ready and waiting
Oh, and if you take the chart back to 2008 there is a bigger triangle that this is breaking out of as well, we're right near the pointy end so it's looking like the right time at least.
Oh, and if you take the chart back to 2008 there is a bigger triangle that this is breaking out of as well, we're right near the pointy end so it's looking like the right time at least.
explod
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In addition to your observations, the lst time gold broke a long pennant was about Sept 07, from that point over 12 months the price rose to its first hit at US1000 Extrapolated forward we would see 1500 in the next 12 months, a lot of pundits are pointing to the 1200 plus.
Will be interesting to see if it repeats,
Silver too in the last 6 hours has broken a similar pennat.
However do not be surprised at a big dump on the comex, typically this has happened many times when a lot of interest builds up
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Lkjdsf oiuslk uy nvldsf piud?
lol ----- or spelt backwards --- lol
Gold shines in September, analysis of 20 years' data shows
Record contrasts with that of stocks; prior to 1988, gold didn't do as well
http://www.marketwatch.com/story/gold-shines-in-september-historical-record-shows-2009-09-01
NEW YORK (MarketWatch) -- Gold prices typically rise in September, an analysis of the historical record shows, as the start of holiday seasons in the world's biggest gold-consuming countries tends to drive up demand.
Gold made gains for the past 16 out of 20 Septembers. That's a better track record than any other month of the year, a MarketWatch analysis of gold prices measured by the London fixing showed.
Since 1988, this global benchmark for gold prices gained an average 3.4% from the end of August to the end of September. It rose more than 5% in September in the past seven out of 20 years.
Gold's recent tendency to do well in September contrasts with what happens in equity markets. September historically has been bad for stocks. The Dow Jones Industrial Average on average fell 1.2% in September since 1896, in contrast to an average gain of 0.7% for all other months. See related story.
"September has been the best time for gold in terms of its month-over-month price appreciation," said Frank Holmes, chief executive officer at U.S. Global Investors Inc., which manages funds such as the $200 million Gold and Precious Metals Fund /quotes/comstock/10r!userx (USERX 13.41, +0.90, +7.19%) .
The London gold fixing jumped 20% in 1999, 11% in 2007, and 9% in 2005. Gold rose 6.2% in September last year. But it lost in September of 2006, 1996, 1993, and 1988.
On Tuesday, gold prices fell slightly to $955 an ounce in London. In futures trading, December gold was almost flat at $953.20 an ounce on the Comex division of the New York Mercantile Exchange. Read daily commodities reports.
Gold tends to do well in September because it's the run-up to several events that can drive up gold consumption.
Jewelry makers start to stock gold ahead of October's Diwali, one of India's most important religious festivals. September also kicks off the post-monsoon wedding season in India, the world's biggest gold consumer.
Jewelry makers also stock gold in September ahead of the holy month of Ramadan in Muslim countries such as the United Arab Emirates. The end of Ramadan is the Eid ul-Fitr holiday, a time for celebration and gift-giving.
Gold demand in China, the world's second-biggest consumer, also tends to rise in the months following the Oct. 1 National Day to the Chinese New Year in January or February.
"Based on the long-term record, this may represent a good time for investors who want to establish or add to a gold or gold-stock positions in advance of seasonal demand growth," Holmes said.
Still, the bet on September remains risky. Although gold has performed well in the past 20 Septembers, its earlier performance wasn't as good. In the 16 years after the U.S. de-pegged the dollar from gold in 1971, gold ended lower for eight of those Septembers.
Seasonal surge?
A global recession has limited jewelry purchases this year, capping gold's gains. Plus, recent signs of an economic recovery have slowed demand for gold as an investment. Now, the precious metal may get a jumpstart from seasonal jewelry purchases.
Gold prices, as gauged by the London gold fixing, have gained 10% in the first eight months of the year, behind silver's 35% jump. Silver outshined gold thanks to its double use as both an inflation hedge and industrial material. See related story.
Holdings in SPDR Gold Trust /quotes/comstock/13*!gld/quotes/nls/gld (GLD 97.72, +1.53, +1.59%) , the biggest gold exchange-traded fund, have been falling recently, weighed on by a stronger dollar. Investors, sensing a potential economic recovery, also opted for riskier assets.
September may bring new hope to gold investors, and "there is potential for a strong recovery in demand at some stage," said the World Gold Council, a gold-mining industry group, in a recent report.
"The upcoming Diwali festival and wedding season should help to underpin a seasonal improvement over the remainder of 2009."
In China, gold jewelry demand increased 6% in the second quarter, "largely attributable to still healthy rates of economic growth," the WGC said. Read more on second-quarter gold trends.
This year's demand from the jewelry sector has remained particularly sluggish as the global economic downturn curbed consumers' appetite for luxuries. In India, gold demand for jewelry production slumped 52% in the first quarter compared with a year ago in India, and 31% in the second quarter, according to the WGC.
India doubled its gold imports tax in the 2009-2010 budget year, a move some analysts said could curb the country's gold demand.
In the second quarter, global gold demand from jewelry was 22% lower than a year ago.
"The average potential Indian gold buyer might have completely different buying priorities this year," said Jon Nadler, senior analyst at Kitco Metals Inc., in an email interview. "At the end of the day, gold is - even in India - a discretionary and luxury purchase."
"Water shortages, food scarcity, and lack of energy do not make for eager gold shoppers - especially with the yellow metal's price being within 10% of its all-time high."
The portion of gold demand from the jewelry sector has also been falling in the past 10 years, while investment demand has been rising. Jewelry demand accounted for 80% of total gold consumption in 1999, according to GFMS Ltd., a London-based precious metals consultancy. In 2008, it accounted for less than 60%.
Moming Zhou is a MarketWatch reporter based in New York.
Record contrasts with that of stocks; prior to 1988, gold didn't do as well
http://www.marketwatch.com/story/gold-shines-in-september-historical-record-shows-2009-09-01
NEW YORK (MarketWatch) -- Gold prices typically rise in September, an analysis of the historical record shows, as the start of holiday seasons in the world's biggest gold-consuming countries tends to drive up demand.
Gold made gains for the past 16 out of 20 Septembers. That's a better track record than any other month of the year, a MarketWatch analysis of gold prices measured by the London fixing showed.
Since 1988, this global benchmark for gold prices gained an average 3.4% from the end of August to the end of September. It rose more than 5% in September in the past seven out of 20 years.
Gold's recent tendency to do well in September contrasts with what happens in equity markets. September historically has been bad for stocks. The Dow Jones Industrial Average on average fell 1.2% in September since 1896, in contrast to an average gain of 0.7% for all other months. See related story.
"September has been the best time for gold in terms of its month-over-month price appreciation," said Frank Holmes, chief executive officer at U.S. Global Investors Inc., which manages funds such as the $200 million Gold and Precious Metals Fund /quotes/comstock/10r!userx (USERX 13.41, +0.90, +7.19%) .
The London gold fixing jumped 20% in 1999, 11% in 2007, and 9% in 2005. Gold rose 6.2% in September last year. But it lost in September of 2006, 1996, 1993, and 1988.
On Tuesday, gold prices fell slightly to $955 an ounce in London. In futures trading, December gold was almost flat at $953.20 an ounce on the Comex division of the New York Mercantile Exchange. Read daily commodities reports.
Gold tends to do well in September because it's the run-up to several events that can drive up gold consumption.
Jewelry makers start to stock gold ahead of October's Diwali, one of India's most important religious festivals. September also kicks off the post-monsoon wedding season in India, the world's biggest gold consumer.
Jewelry makers also stock gold in September ahead of the holy month of Ramadan in Muslim countries such as the United Arab Emirates. The end of Ramadan is the Eid ul-Fitr holiday, a time for celebration and gift-giving.
Gold demand in China, the world's second-biggest consumer, also tends to rise in the months following the Oct. 1 National Day to the Chinese New Year in January or February.
"Based on the long-term record, this may represent a good time for investors who want to establish or add to a gold or gold-stock positions in advance of seasonal demand growth," Holmes said.
Still, the bet on September remains risky. Although gold has performed well in the past 20 Septembers, its earlier performance wasn't as good. In the 16 years after the U.S. de-pegged the dollar from gold in 1971, gold ended lower for eight of those Septembers.
Seasonal surge?
A global recession has limited jewelry purchases this year, capping gold's gains. Plus, recent signs of an economic recovery have slowed demand for gold as an investment. Now, the precious metal may get a jumpstart from seasonal jewelry purchases.
Gold prices, as gauged by the London gold fixing, have gained 10% in the first eight months of the year, behind silver's 35% jump. Silver outshined gold thanks to its double use as both an inflation hedge and industrial material. See related story.
Holdings in SPDR Gold Trust /quotes/comstock/13*!gld/quotes/nls/gld (GLD 97.72, +1.53, +1.59%) , the biggest gold exchange-traded fund, have been falling recently, weighed on by a stronger dollar. Investors, sensing a potential economic recovery, also opted for riskier assets.
September may bring new hope to gold investors, and "there is potential for a strong recovery in demand at some stage," said the World Gold Council, a gold-mining industry group, in a recent report.
"The upcoming Diwali festival and wedding season should help to underpin a seasonal improvement over the remainder of 2009."
In China, gold jewelry demand increased 6% in the second quarter, "largely attributable to still healthy rates of economic growth," the WGC said. Read more on second-quarter gold trends.
This year's demand from the jewelry sector has remained particularly sluggish as the global economic downturn curbed consumers' appetite for luxuries. In India, gold demand for jewelry production slumped 52% in the first quarter compared with a year ago in India, and 31% in the second quarter, according to the WGC.
India doubled its gold imports tax in the 2009-2010 budget year, a move some analysts said could curb the country's gold demand.
In the second quarter, global gold demand from jewelry was 22% lower than a year ago.
"The average potential Indian gold buyer might have completely different buying priorities this year," said Jon Nadler, senior analyst at Kitco Metals Inc., in an email interview. "At the end of the day, gold is - even in India - a discretionary and luxury purchase."
"Water shortages, food scarcity, and lack of energy do not make for eager gold shoppers - especially with the yellow metal's price being within 10% of its all-time high."
The portion of gold demand from the jewelry sector has also been falling in the past 10 years, while investment demand has been rising. Jewelry demand accounted for 80% of total gold consumption in 1999, according to GFMS Ltd., a London-based precious metals consultancy. In 2008, it accounted for less than 60%.
Moming Zhou is a MarketWatch reporter based in New York.
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seems like many fridays, the price tops and then the follwoing monday it drops....
looks like we may break the $1200 tomorrow
looks like we may break the $1200 tomorrow
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yee haw! giddy up! to da moooon! and other immature ranting.
Sailing close to the sun now ... will its feathers get burnt or will it push on through.
Sailing close to the sun now ... will its feathers get burnt or will it push on through.
explod
explod
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yee haw! giddy up! to da moooon! and other immature ranting.
Sailing close to the sun now ... will its feathers get burnt or will it push on through.
Friday trade on comex is usually down. We still have a ways to play for clear sky, on the long term top line of the pennant we need a close and then a clear break above US$2005 .
US$ index range bound so we wait and see.
Trembling Hand
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Only 2 out of the last 6 Fridays have been down. You would expect price action to be in the direction of the weekly trend come the last day. That being said she is a little toppy here.
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explod
explod
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Yes t/h, I was thinking of the many times past when we were very stoked up at the end of the week, it seems to be (and yes I have become a bit paranoid) that when the audience is listening, everyone starting to watch, it crashes and crushes.
We will see.
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