Gold Price - Where is it heading?

[Boyou]

Indeed ,Ageo..I hear you

I have already started to accumulate silver..much more leverage there IMHO

 

[Edwood]

I have a spike down on my spreadbet charts to the 1180 area a couple of days back - am assuming this is not shown on 'proper' charts?

nevertheless, price has a habit of testing such 'erroneous' spikes....

 

[sinner]

Personally i think silver is actually better than gold for long term investment.

Gee only been pointing out gold is expensive and silver is long term cheap for months and months and months now on this thread.

Somewhat off topic ,but,they mention silver in the article so...what do they mean by "high beta"?

"We continue to see silver as “high beta” gold. Silver itself was up
4.4%, and our favorite silver equity, Silver Wheaton, was 8.1% higher on
the day"

Cheers.

Beta beta beta beta. When you see the chart you will grasp the concept:



Thanks to Stockcharts and Bloomberg (respectively) for those charts.

From the second chart, it is obviously time for Aussies to start thinking in XAU/AUD and XAG/AUD terms rather than pricing in USD.

EDIT: Ooops. The second chart is silver and gold priced in AUD. Yellow is silver green is gold.

 

[explod]

Gee only been pointing out gold is expensive and silver is long term cheap for months and months and months now on this thread.

Yep. and some have been pointing it out for years.

It only has to come back to its normal level of around 25 to 1 to make a killing, I think without checking it is in the regeon of 65 to 1 currently.

Perhaps we should be putting our efforts into the silver thread as it seems to lead gold just prior to large upticks.

 

[Boyou]

Thanks ,sinner

I get it now Beta is better.

 

[sinner]

Thanks ,sinner

I get it now Beta is better.

Beta beta beta. That's all I know really - but you can learn the rest from a real pro here

https://www.aussiestockforums.com/forums/showthread.php?t=1366

It might be a page or two in I think.

 

[Boyou]

The Chinese continue to believe in gold...

http://www.youtube.com/watch?v=SbUvvfJakfI

 

[Whiskers]

The Chinese continue to believe in gold...

http://www.youtube.com/watch?v=SbUvvfJakfI

I heard a few weeks ago that India was probably going to substantially reduce it's gold demand for their gold buying (wedding) season if the price stayed high.

A bit of a wind back now might be just the tonic to kick up their demand too, getting half way into their wedding season.

 

[Boyou]

While I feel sorry for the Indian brides at this time,I really think they have had too many years of (relatively) cheap gold.
Time for Gold to shine!

They can always buy silver..it's still way to cheap ,for now

(Good to see a bit of back and forth on this thread..it's been as quiet as a worked out gold mine)

 

[skyQuake]

Down tonight! Heavy selling in the gold miners too

 

[Edwood]

I have a spike down on my spreadbet charts to the 1180 area a couple of days back - am assuming this is not shown on 'proper' charts?

nevertheless, price has a habit of testing such 'erroneous' spikes....

and testing it is...

 

[Edwood]

the spike looks dodgy - until you put it in context - sits perfectly in the up channel

 

[Whiskers]

the spike looks dodgy - until you put it in context - sits perfectly in the up channel

Yeah, I reckon too Edwood.

There is a bit of MACD divergence, but I think this uptrend still has a bit to go as my two favored counts suggests this is a minor iv (yellow) which may still go a tad lower before it's done and moves on to new highs.

 

[MRC & Co]

Massive unwind of global positioning last night (from AUD, EUR, GBP, Gold, S&P etc).

That's all the gold move was IMO.

 

[explod]

Massive unwind of global positioning last night (from AUD, EUR, GBP, Gold, S&P etc).

That's all the gold move was IMO.

And contracts up for rollover at this time each month, the following from Trader Dan today

Based on the huge liquidation seen on the drop in yesterday’s open interest ( over 21,000) plus today’s exodus of weak-handed longs, the market has seen a rather sizeable drop in the overall long side exposure. Since we are now approaching the rollover period when funds will move out of June and into August and even December gold, we might have to wait another couple of weeks before we get a serious effort to the upside (that is assuming the status quo in Europe does not change – it could worsen). The condition of the world’s financial system is so tenuous that it is not beyond the possibility of gold completely putting back on in one day what it took off during a previous one.

http://www.jsmineset.com/

On the charts we have support in the US$1180 area and very solid down towards 1100 And it could shake off down to that level before the next larger move up. The US dollar will be the key in the shorter term IMO and it is hitting an old area of risistance at the current level towards .88 We should soon see as it has retraced the last 12 hours.

 

[Southern X]

Seasonality suggests a bottoming in July followed by a run into January. That, though, is based on the past... This year, if there's a crash, the safe haven will once again be the USD -- which to me is counter-intuitive; however, 2008's DXY and GLD show this graphically. As does gold's rise subsequently, which seems intuitive.

The impact on equities seems to be in proportion to size, ie. the bigger you are the less you fall. The biggest though must always be on the prowl for ounces just to keep their at resource par; and they've had great free cash flows recently. This should bode well for the explorecos except for a predatory takeover bid from an unreasonably depressed share price.

Good Luck

S X

 

[Ageo]

I heard a few weeks ago that India was probably going to substantially reduce it's gold demand for their gold buying (wedding) season if the price stayed high.

A bit of a wind back now might be just the tonic to kick up their demand too, getting half way into their wedding season.

If only the jewellery manufactures stopped ripping off their citizens thow....

95% of indian 22ct (91.66% gold) of jewellery i buy here is usually always 5%+under which means all those manufactures are making a killing when manufacturing tonnes of jewellery.

 

[Uncle Festivus]

Seasonality suggests a bottoming in July followed by a run into January. That, though, is based on the past... This year, if there's a crash, the safe haven will once again be the USD -- which to me is counter-intuitive; however, 2008's DXY and GLD show this graphically. As does gold's rise subsequently, which seems intuitive.

The impact on equities seems to be in proportion to size, ie. the bigger you are the less you fall. The biggest though must always be on the prowl for ounces just to keep their at resource par; and they've had great free cash flows recently. This should bode well for the explorecos except for a predatory takeover bid from an unreasonably depressed share price.

Good Luck

S X

The irony, as always, is that Aussie gold equities are getting dropped with all the other crud with the focus on the US price of gold while the AU price is getting back to the previous highs, thanks to the $AU suddenly becoming a risk trade?

 

[sinner]

Seasonality suggests a bottoming in July followed by a run into January. That, though, is based on the past... This year, if there's a crash, the safe haven will once again be the USD -- which to me is counter-intuitive; however, 2008's DXY and GLD show this graphically. As does gold's rise subsequently, which seems intuitive.

The impact on equities seems to be in proportion to size, ie. the bigger you are the less you fall. The biggest though must always be on the prowl for ounces just to keep their at resource par; and they've had great free cash flows recently. This should bode well for the explorecos except for a predatory takeover bid from an unreasonably depressed share price.

Good Luck

S X

Great post - please come back.

 

[Edwood]

http://www.theundergroundinvestor.c...rcial-investment-firms-never-want-you-to-see/

sure you guys know this already...