Gold Price - Where is it heading?

[GumbyLearner]

the paper fairy tale.

spot on there mate!

 

[Southern X]

Gold is approaching/hitting its 18 month trendline for the sixth time (trendlines are all about how one draws them and over what period), its bounced up each time. Add oversold to this and UP looks alot less risky.

If it breaks look out below, for a buying dip or falling knife. I'll be keenly listening to analysis of Bernanke's testimony tomorrow; the European stress tests Friday, and watching the price as Au options expire next week.

SX

 

[reallysure]

So you guys think we are in a bear gold market at the moment?

Possibly hitting the US600oz to US500oz by end of the year?

Sorry i am no expert just curious with your opinions

Thanks

 

[So_Cynical]

So you guys think we are in a bear gold market at the moment?

Possibly hitting the US600oz to US500oz by end of the year?

Sorry i am no expert just curious with your opinions

Thanks

With POG at US600oz to US500oz half the producers in the world would be producing at a loss and going broke and the other half would be producing at close to break even...world production would totally collapse.

IMO the chance of POG hitting US600oz to US500oz ever again are zero.

 

[electronicmaster]

So you guys think we are in a bear gold market at the moment?

Possibly hitting the US600oz to US500oz by end of the year?

Sorry i am no expert just curious with your opinions

Thanks

The bull market is still in play for Gold and Silver and will be for a few years.

The CFTC has new powers that allows them to enforce position limits on the Derivative Markets. And they are also going after Computer Market Rigging as well.

This is due to the the Financial Reform Bill that has been signed into law last week in the USA.

Gold and Silver markets from here on will soon be free from massive manipulation (price suppression).

What is happening now? The major banks and other big financial businesses have been lowering the price of Gold and Silver so they can remove as many short positions while they can. They can't cover most of their short positions.

Please see this video "Bart Chilton on Financial Regulatory Reform Legislation, July 2010" for more information.

 

[wayneL]

With POG at US600oz to US500oz half the producers in the world would be producing at a loss and going broke and the other half would be producing at close to break even...world production would totally collapse.

IMO the chance of POG hitting US600oz to US500oz ever again are zero.

I doubt it too, but never say never. Gold only really broke that level in 2006 and if most producers cannot turn a profit at that level, so what does that tell us?

 

[reallysure]

thanks guys i thought so...doesn't take that quick to recover at these times....listening to the old timers they think its the worse they have been in and i do have the feeling gold will still be strong a few years more or even stay at a balanced gold price like all other commodities...just what i have heard thats all.

 

[Southern X]

The five week gold trend is down. Which, in conjunction with seasonality, should be expected, natural, and with the exception of 2008, normal.

I'm not trying to pick the bottom of this dip, just take advantage of the buying opportunities it provides. We'll see what the markets think of the eurobank stress tests later (reminds me of primary school when every kid got a gold/silver star in their workbooks).

Also curious to see will be the effect of options expiring this week. A couple of posts prior suggested new US legislation will clean up the COMEX trade/contract structure. I hope so, but I don't trade on hope; time will tell.

As for gold going to USD500 to 600, the only upside here would be having sold your gold stocks north of gold USD1000, then buying back BIG. Because if it's in that low range the move up -- spike aside -- is near a triple. Add a spike and that quarter acre block is paid for, and the next one, and the...

SX

 

[GumbyLearner]

The crooks need it bad.

http://dandenong-leader.whereilive.com.au/news/story/bold-burglars-going-for-gold-in-dandenong/

A SPATE of gold thefts over the past month in Greater Dandenong has sparked a police warning to residents.

Detective acting Sgt Dean Marchant said the burglars focused on electronic equipment and gold, possibly due to its strong market price.

“They appear to be targeting jewellery - in particularly gold

 

[Buckfont]

The crooks need it bad.

http://dandenong-leader.whereilive.com.au/news/story/bold-burglars-going-for-gold-in-dandenong/

A SPATE of gold thefts over the past month in Greater Dandenong has sparked a police warning to residents.

Detective acting Sgt Dean Marchant said the burglars focused on electronic equipment and gold, possibly due to its strong market price.

“They appear to be targeting jewellery - in particularly gold

I`d say this more to do with junkies and the like feeding their habit, as opposed to the AU price going up.

 

[GumbyLearner]

I`d say this more to do with junkies and the like feeding their habit, as opposed to the AU price going up.

You could be right. Pawn shops are definitely no place to sell gold unless your desperate. But looks like a spate of burglaries. So if that were the case, then surely fabricated jewelry items would likely have been spotted by now. TV's, DVDs, Stereos all depreciate in value though...I suppose gold can too like 10 years ago.

 

[Buckfont]

You could be right. Pawn shops are definitely no place to sell gold unless your desperate. But looks like a spate of burglaries. So if that were the case, then surely fabricated jewelry items would likely have been spotted by now. TV's, DVDs, Stereos all depreciate in value though...I suppose gold can too like 10 years ago.

Could be ?

 

[reallysure]

GumpyLearner your spot on!

Pawnshops and Second Hand dealers are a no go....go to bullion places...there are a few around any city your from

Cheers

 

[Ageo]

GumpyLearner your spot on!

Pawnshops and Second Hand dealers are a no go....go to bullion places...there are a few around any city your from

Cheers

Hey dont knock all 2ndhand dealers........... just 99.9% of em

 

[reallysure]

nice 0.1% is not bad

 

[explod]

Hey dont knock all 2ndhand dealers........... just 99.9% of em

From my trading in physical but more (pleased to say) accumulation it is coin dealers for me. I'm with you Ageo, your steady counsel over the last four years on PM's has always been spot on.

Now,,, do not take umbridge at this Gumby, you are very correct on pawn shops and those cheats buying jewelry at shopping centres are scum in my view.

 

[Ageo]

From my trading in physical but more (pleased to say) accumulation it is coin dealers for me. I'm with you Ageo, your steady counsel over the last four years on PM's has always been spot on.

Now,,, do not take umbridge at this Gumby, you are very correct on pawn shops and those cheats buying jewelry at shopping centres are scum in my view.

Thanks explod, although my views and thoughts are just that on my personal experience from the field. Atm its very flat in the market (very very flat) but i have been buying up and holding, seasonal run coming should bump it up a tad. The dollar isnt helping but thats life.

 

[Southern X]

Ah, sweet drop.

This week is tough if one is if you're holding. For those who sold (I sold PRU) it's a waiting game to buy back in or find something else (REEs, eg. ALK, which also has plenty of gold).

The charts suggest a buy around the $1140 support, make sure it's tested; or confirmation of a solid break-out, $1225. Option expiry week doesn't help, again, depending if one is in or out.

Happy hunting! (I've got a few in my sights, hope you do too).

SX

 

[sinner]

From my trading in physical but more (pleased to say) accumulation it is coin dealers for me. I'm with you Ageo, your steady counsel over the last four years on PM's has always been spot on.

Agreed. Ageo one of my favorite contributors to this thread.

 

[Ageo]

Wow im actually really glad i could have been of assistance to some on this forum.

Here is something i bought the other day

620gram 9ct dog chain, its interesting when people need to sell they scrap all sorts of things.



Uploaded with ImageShack.us