Gold Price - Where is it heading?

[GreatPig]

Kennas,

I don't know exactly, but I gather it's supposed to follow the gold price pretty closely (in A$ though). And the chart for ZAUWBA, the Gold Corp warrant, looks very similar to this.

Cheers,
GP

 

[Kauri]

Hmm... that Kitco chart doesn't match very well with the chart of GOLD on the ASX. I think that second peak in early July is missing a couple of higher prices.

It's broken through the more recent lower downtrend line, but still has a way to go to reach the overall peak downtrend line.

Cheers,
GP

Kitco chart??? I think it is a continuous contract chart whereas yours is possibly a day session (Aussie??) .. judging by the gaps anyway. I trade by CFD's and my chart matches my providers, so I guess the chart you use depends on where your broker sources their prices. Mine is possibly out of kilter with everyone elses.
Cheers
Kauri

OOOOPs, sorry GP, I see you wern't talking to me..

 

[thestorm]

When the Republicans win the elections next week they will push Gold back down to $400.

Then watch all the goldies cry! - ha that will be a laugh!!

 

[markrmau]

Gold and light crude diverging a little more.

 

[wayneL]

When the Republicans win the elections next week...

That would be a disaster!!

Mind you if the Dems win, that would be a disater too.

***saving for a space ship

 

[wayneL]

Gold and light crude diverging a little more.

Mark,

Check out the US dollar index. Quite some reverse correlation there.

...for whatever it's worth.

 

[Sean K]

Holding above $620. Bullish. For now.

 

[GreatPig]

Considered trying to ride it back up to the higher downtrend line, but I don't think there's enough reward in it (without leverage) for the potential risk.

Think I'll just keep watching this one for now.

GP

 

[Kauri]

GP
What is the instrument you trade. If the price on your chart is $Aussie it looks to be about the equivalent of 1/10 oz. Is it a warrant of some sort. Who do you trade it with? I have found a similar chart in my Bhodi downloads called called "GOLD.RED.PREF". Have no idea what it is.
Cheers
Kauri.
PS... I use your AIM dll in AB and it is brilliant.

 

[GreatPig]

What is the instrument you trade.

There are two possibilities: GOLD and ZAUWBA. The latter is a warrant from Gold Corp (basically the Perth Mint). Neither are leveraged. GOLD is for 1/10th oz while the warrant is for 1/100th oz.

I held the warrant for a while, back in June/July, but nothing else since. It has a pretty wicked spread, which covers some sort of lease payment.

I use your AIM dll in AB and it is brilliant.

Thanks.

Are you running any stocks on AIM now?

Cheers,
GP

 

[Kauri]

Are you running any stocks on AIM now?

Cheers,
GP

GP,
Have posted 2 of my current setups ( naturally picked 2 of the better performing ones ). In CAB and IGO threads.
Cheers
Kauri

 

[Sean K]

Gold at $627....

Holding above what was resistance at $620, now possible support. On the up IMO but still just a little too early maybe.

 

[GreatPig]

Until my trading account has moved from Etrade back to NAB, I've got no spare cash to buy gold now anyway.

GP

 

[Sean K]

Until my trading account has moved from Etrade back to NAB, I've got no spare cash to buy gold now anyway.

GP

I'll lend you some at 10% GP.

 

[2020hindsight]

Since this gold price question seems to be boiling down "who wins next week", a couple of quotes by Barbara Ehrenreich http://www.wisdomquotes.com/cat_ethics.html :-

I was raised the old-fashioned way, with a stern set of moral principles: Never lie, cheat, steal or knowingly spread a venereal disease. Never speed up to hit a pedestrian or, or course, stop to kick a pedestrian who has already been hit. From which it followed, of course, that one would never ever -- on pain of deletion from dozens of Christmas card lists across the country -- vote Republican.

Then again she also says :-
Personally, I have nothing against work, particularly when performed, quietly and unobtrusively, by someone else. I just don't happen to think it's an appropriate subject for an "ethic."

So I guess if she is typical of US opinion, the Democrats would get in , and the US economy , which has allegedly enjoyed such meteoric growth under GWB - would go downhill due to laziness.

PS I notice claims that GWB has manipulated the court ruling on Saddam to be announced a few days before the election. Who says he isn't a genius lol. (when self interest is involved).

 

[GreatPig]

I'll lend you some at 10% GP.

Thanks Shylock, but my boat is about to come in

GP

 

[Sean K]

Thanks Shylock, but my boat is about to come in

GP

A golden Arc?

 

[YOUNG_TRADER]

Thanks Shylock

Priceless call lol, 10% isn't so bad unless Kennas wants a pound of flesh for default


Gold needs to hold $620 and consolidate before it can test $720 again, not holding my breath

 

[Smurf1976]

***saving for a space ship

For some strange reason a certain other forum comes to mind whenever I hear those words...

 

[wayneL]

For some strange reason a certain other forum comes to mind whenever I hear those words...

OK OK OK!!! I admiy it! I stole it from there!!! LOL