Gold Price - Where is it heading?

[Uncle Festivus]

Risk aversion =+USD, -gold unless or until we get a black swan event? Dubai can be 'contained' by 'them' so the USD shorters will be forced to cover, with collateral damage to negative USD correlated plays? Unless this is the catalyst for the main event, in which case the gloves are off? But if not then maybe the last gasp up for the USD - then buy gold? $950 or $700?

 

[cuttlefish]

hold gold imo
the USD is dead long live the USD

last squeeze caused a flight to the USD - the US respoded by printing. In the event of a second squeeze we now know that the US will print until they can't print no more. Wealth holders may fly somewhere else.

(beer proudly sponsored this post )

 

[GumbyLearner]

hold gold imo
the USD is dead long live the USD

last squeeze caused a flight to the USD - the US respoded by printing. In the event of a second squeeze we now know that the US will print until they can't print no more. Wealth holders may fly somewhere else.

(beer proudly sponsored this post )

And it's the only solution for their own political expedient purposes IMO. Faber has been repeating this mantra for the last 18 months on the commercial channels.

Here's the interview on Lateline. Wow is this guy a great interviewee when he is not constrained by the major networks and their populist diatribe crap.

Enjoy the ale Cuttle

August 26, 2009
From 5:13 is when Mr.Faber really tells listeners what he thinks

 

[Joules MM1]

DG speaks

http://www.cnbc.com/id/34121808

 

[GumbyLearner]

yep good move guys, full yer boots, gold is going to the moon - everyone knows it

How's it looking now?

 

[Edwood]

yep its retraced a lot of the move, good to see, don't want too many gaps left up top. dang closing that long from 1138 at 1144!

agree with you Uncle F, games not over for USD yet, gold isn't any where near becoming a viable alternative yet, we need to see truly massive social upheaval before that happens and the conditions aren't ripe yet imo

 

[GumbyLearner]

yep its retraced a lot of the move, good to see, don't want too many gaps left up top. dang closing that long from 1138 at 1144!

agree with you Uncle F, games not over for USD yet, gold isn't any where near becoming a viable alternative yet, we need to see truly massive social upheaval before that happens and the conditions aren't ripe yet imo

Cheers Ed

I think you really need to think more.

You won on the short trade tonight. Well done!!

Let's see where this trade is going?

 

[Ageo]

DG speaks

http://www.cnbc.com/id/34121808

lol that guy is on CNBC so i rest my case for his comments.

 

[Edwood]

sure Gumbal - give me a shout when you see the next trade setting up, will be keen to see how your call goes

 

[GumbyLearner]

sure Gumbal - give me a shout when you see the next trade setting up, will be keen to see how your call goes

Your call fella!

What do you say? I say $1250 b4 Chrissy! JMO

What about you?

Are you going to give a target? Or are you too soft to respond?

 

[GumbyLearner]

Your call fella!

What do you say? I say $1250 b4 Chrissy! JMO

What about you?

Are you going to give a target? Or are you too soft to respond?

Plenty of time allowed!

You are a softcock EdWood!

 

[GumbyLearner]

Nice tree-shaking exercise Shorts

Lets get it on!

Gold down roughly $10 an oz.

I really should post my care factor so here goes
0.0178%.

 

[Edwood]

thanks for the tip Grumbly

where should I enter for this 1250 target?
where should I put my stop?

just out of interest, did your stop get hit on the drop yesterday? if so, where did you re-enter longs?

ta in advance

 

[Ato]

Here's the interview on Lateline. Wow is this guy a great interviewee when he is not constrained by the major networks and their populist diatribe crap.

I dont like the idea of the US going to war after the system collapses from 5-10 years from now That scares the crapola out of me...

 

[Edwood]

morning chaps - as said earlier I don't really follow gold, just looking for trades

Does it bother you gold bugs that there are around 140 paper ounces for every physical ounce?

Interested to hear thoughts

Cheers

 

[explod]

morning chaps - as said earlier I don't really follow gold, just looking for trades

Does it bother you gold bugs that there are around 140 paper ounces for every physical ounce?

Interested to hear thoughts

Cheers

Not at all, as more investors are looking for delivery on the paper it is going to get squeezed out big time and then there will be an enourmous explosion in the price, in my opinion. In fact refiners and scrap dealers cannot keep up to the demand of late. The US have this last week have just run out of 1 ounce gold eagles.

 

[Edwood]

Not at all, as more investors are looking for delivery on the paper it is going to get squeezed out big time and then there will be an enourmous explosion in the price, in my opinion. In fact refiners and scrap dealers cannot keep up to the demand of late. The US have this last week have just run out of 1 ounce gold eagles.

hi Explod - thanks - was just reading about the Eagles and demand for physical storage in the US - interesting times eh. Guess there's a strong demand for guns too if folks think 'the system' is REALLY going t1ts up.

Out of interest, and apologies in advance I know I could search for this info (but figured you guys would know so better to ask the initiated ) - what're the storage costs like for the physical?

 

[explod]

hi Explod - thanks - was just reading about the Eagles and demand for physical storage in the US - interesting times eh. Guess there's a strong demand for guns too if folks think 'the system' is REALLY going t1ts up.

Out of interest, and apologies in advance I know I could search for this info (but figured you guys would know so better to ask the initiated ) - what're the storage costs like for the physical?

25kg about $500 per annum. Reduces to around $200 for half kilo. Bank headquarters in the City would be my preferred and it is then near to dealers for offloading etc.

 

[buttonzhu]

I think the gold price now is more like a psychological thing, if the economic condition is bad, investors will buy gold for safety, if the economic condition is good, people will have money to buy things like rings etc which increases the load of gold.

So I believe, the gold price might still in the uptrend to 1400 or even higher..... until some much better investments for investors come up, then the gold price might turn down...

 

[explod]

I think the gold price now is more like a psychological thing, if the economic condition is bad, investors will buy gold for safety, if the economic condition is good, people will have money to buy things like rings etc which increases the load of gold.

So I believe, the gold price might still in the uptrend to 1400 or even higher..... until some much better investments for investors come up, then the gold price might turn down...

Yes, a good point. From my viewpoint I think gold will continue to strengthen for a number of years to come as the economic imballances of very high debt against very low real production will be around for a long time too. For exampole in the US 200 million people are unrpoductive against 100 million who are. Governments wanting to stay elected will pander and support the unproductive people for as long as they can. We in Australia are perhaps not at that point yet. A lot of our real production however comes from mining and farming for example which is produced by a low number of people.

Governments and the banks are producing ever more paper money by the issue of increased debt to the unproductive to try and keep things rolling. This is diluting the value of currencies which in turn increases the value of gold. From what we can tell a solution to this problems seems a long way off. So for me gold is a hedge against money in the bank losing its value. It is doing so at a greater margin than can be recouped from term deposits or bonds for example.