Gold Price - Where is it heading?

[sinner]

Sinner, can you do those in AUD? kennas

No hello sinner how are you mate, not even a please!

I tried to oblige anyway, but I'm having trouble with my charting capabilities from current location so you are left to fend for yourself in the interim.

Perth Mint provides monthly pricing tables going way back to the late 60s, and this is the data that I was planning on using to fulfill your request.

http://www.perthmint.com.au/investment_invest_in_gold_precious_metal_prices.aspx

It would be extremely difficult to generate a OHLC chart like the ones shown above using that sort of data though.

The best I can offer on an OHLC basis is the pricing of ASX:GOLD since '03 linear and log...
Linear


Log

 

[Edwood]

"Uh-oh, looks like we're going under $30 silver..."

 

[explod]

View attachment 42886

"Uh-oh, looks like we're going under $30 silver..."

Its very interesting. Silver bars on ebay upwards of AU$48 an ounce and the paper price now about AU$31.90

Gunna be a bust up soon. Glad I hold physical.

 

[Edwood]

Gunna be a bust up soon. Glad I hold physical.

yes lucky for you Explod

Paper is perfect for me, this volatility is great!

 

[TabJockey]

Its very interesting. Silver bars on ebay upwards of AU$48 an ounce and the paper price now about AU$31.90

Gunna be a bust up soon. Glad I hold physical.

Glad to hold an asset that was in a bubble and is now dropping like a rock? Easiest technical play I have ever seen Silver at $49.

You are a very one sided investor Explod. More of a crazy precious metal bug than an investor really. But this is an internet forum and you have to expect all sorts dont you?

 

[TabJockey]

...I believe junior mining stocks (GDXJ) will catch up. Some people are concerned that some of the mining stocks that haven't moved yet should be sold while they're reaching long-term support and basing. I don’t believe so as they all provide leverage to falling currencies and rising demand from emerging economies.

I believe that junior stocks highly leveraged to commodity prices have had their day. To me it appears there is significant resistance across to the board as investors are unwilling to buy the securities at higher prices. On spot price metrics some stocks may look cheap but most are factoring in more downside risk in commodity prices than upside risk in the near term.

I believe supply demand fundamentals will continue to drive some commodities higher after this technical sell off, but not all, and I do not expect any serious bull markets anytime soon.

The whole European sovereign debt issue is coming to a head and the precious metals are dropping! what does that tell you? It tells me that when good news starts flowing, the mania in precious metals will deintensify.

 

[explod]

Glad to hold an asset that was in a bubble and is now dropping like a rock? Easiest technical play I have ever seen Silver at $49.

You are a very one sided investor Explod. More of a crazy precious metal bug than an investor really. But this is an internet forum and you have to expect all sorts dont you?

I have been trading hither and thither since 1967, a thing called Exoil was , brought them for 10 cents on the advice of my Farther and sold a couple of yearts later for 90 cents.

I am up on todays price more than 150% on silver since I purchased in 2004. I am an investor not a short term trader. You do seem to mouth off a bit like a newbie sometimes but we all have to start somewhere and helping each other in these discussions is the name of the game.

In one day last week there were paper trades in silver comprising more than 12 months world production. And the price on physical is one thing, but being able to buy and take delivery of physical silver now in any quantity is nearly impossible. At best I think Perth Mint are saying by late June and have in fact stopped taking orders at all for bars larger than 100oz.

Paper ponzie US dollars and paper ponzi silver contracts are in the death throes now and those wise enough to have been prepared for it will survive.

A litle bit of press to speak up the Greek situation is the same propaganda put up the last time the US dollar looked like falling off a cliff and it has worked again the last few days too. Of course Moody's are part of the Wall Street ponzie also. But the days are numbered, remember the story of the boy who cried wolf.

Would be interested in a little more of your take on what constituttes a gold bug is too.

 

[tothemax6]

Glad to hold an asset that was in a bubble and is now dropping like a rock? Easiest technical play I have ever seen Silver at $49.

You are a very one sided investor Explod. More of a crazy precious metal bug than an investor really. But this is an internet forum and you have to expect all sorts dont you?

Did you take a short position at $49? If so, great call. Trying to short an exponential mania is damn hard - one can never tell the top of a mania.

Can someone explain to me what on earth silver is doing? I just opened up a chart and it went down from under 50 to 35, then cruised back up to just under 40, and just over the last 24hrs it got dumped to under 33.
What in gods name is this stuff?

 

[qldfrog]

another puzzling event today: Newcrest went down heavily yet all my papaer gold went up: PMGOLD, Gold on the ASX;
Newcrest has been following the commodities down the drain yet they are nothing but gold? or do I miss some copper & other significant side products?
Anyone has an explanation?

 

[skyQuake]

another puzzling event today: Newcrest went down heavily yet all my papaer gold went up: PMGOLD, Gold on the ASX;
Newcrest has been following the commodities down the drain yet they are nothing but gold? or do I miss some copper & other significant side products?
Anyone has an explanation?

PM gold is very illiquid and not a good indication of spot or futures gold (which fell 1.5% in US trading overnight) and dragged NCM down

 

[Logique]

..Can someone explain to me what on earth silver is doing? ...What in gods name is this stuff?

He he, nature of the beast, a volatile little baby. I'm guessing it will find it's way, and settle down to a base somewhere $25 -$35 before striking out again.

And yes a great technical call by TJ. Mind you it was looking parabolic at the time - alarm bells were ringing.

 

[sinner]

My thoughts on gold priced in USD.


1. the breakout of 1430 was a breakout of major daily resistance
2. the most recent flows of money and information have now formed an intermediate daily support
3. A 45 degree trendline drawn from the major daily support low at 1308 has now been broken as of last nights trading. The inside bar shown should hopefully provide some clues as to where we are off to, in the short term.
4. If intermediate support can't hold, there is still lots of RBS type setups which can play out in the 1430-1450 zone. There is also support to be had at 1410.

My thoughts on gold priced in AUD (using ASX:GOLD as a pricing proxy).

1. the most recent flows of money and information have driven the AUDPOG into a consolidation. A breakout of major daily support or resistance should help give clues where we are going, but regardless, there are plenty of major levels to chew through on either side once we get there. Thus caution is warranted, we aren't trending yet.
2. Viewers are encouraged to fire up the 3 year daily chart to see how these levels fit in nicely with the bigger picture, major daily s/r levels are being formed in compression styles thanks largely to the correlated action of AUDUSD and XAUUSD during the last 24 months, sooner or later this will end in a larger breakout corresponding to weekly/monthly charts IMHO.
3. While we are inside the 1397/1335 range, I am counting 1371 as the line in the sand.

That's it from me.

 

[DB008]

Found this, albiet a few years old.
I wonder if it really had any substance to it, but if true, scary thought.


Tungstengold Tungsten Gold Wolframgold Wolfram Bars





Fake gold bars! What's next?
http://viewzone2.com/fakegoldx.html

 

[explod]

Found this, albiet a few years old.
I wonder if it really had any substance to it, but if true, scary thought.


Fake gold bars! What's next?
http://viewzone2.com/fakegoldx.html

Good one DB008

And quite seperate to your post, I read today that Ron Paul is going to ask the US Congress the same questions, "are the US gold bars fake?"

http://www.gata.org/node/10004

If some real evidence comes to the fore we may see gold go parabolic on just this aspect alone.

And is there perhaps enough noise now coming through that this is no longer just a conspiracy theory.

Interesting times.

 

[Uncle Festivus]

So quiet in here while the Acropolis burns......

I recall that the official US gold inventory level hasn't changed since early 2006 - not by a single ounce!

Very solid performance of gold in the recent 'dip' in the DOW too - usually gold takes a bath with the DOW but this time has held it's own. Trouble for the 'I owe you nothing' $USD's.......

 

[explod]

Why own gold and silver?
The reasons to hold gold and silver, and I mean physical gold and silver, are pretty straightforward. So let’s begin with the primary reasons to own gold.


To protect against monetary recklessness
As insulation against fiscal foolishness
As insurance against the possibility of a major calamity in the banking/financial system
For the embedded 'option value' that will pay out if and when gold is remonetized

See:-

http://www.chrismartenson.com/blog/...dication&utm_content=link0&utm_campaign=59850

From my observations we have had the shakeout we had to have with consolidation and survived the bullion bank downramping.

But as the article above points out only physical will protect us from where markets are headed now in my view. DYOR as I am often wrong.

 

[explod]

Gold is hitting a new all time high and there is no noise. Interesting.

It has done so against the British Pound and the Euro for some month now so it was only a matter of time against the World Reserve currency.

Cheers to gold and silver followers as all the gates seem to be open.

 

[disarray]

just need the aussie dollar to fall over

 

[explod]

just need the aussie dollar to fall over

It wont fall over in the forseeable future. Aussie gold is up 8% over the last 12 months but is up more than 400% since Costello presided over the sale of most of our own gold holdings.

Miners mostly sell into US dollars so good producers are the place to be at this time in my view.

Most see it all as prices going up, however the reality is, currencies/paper money, is losing value across the board.

 

[disarray]

no rush