Gold Price - Where is it heading?

[zwiiyt]

Gold will continue to rise in price. By the end of 2012, i won't be surprised if it's hit 2k. It's obvious that both Europe and America are too printing press happy.

 

[DB008]

Gold Bulls Expand as Paulson Says Buy

Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy the metal as protection against inflation caused by government spending.

Twelve of 22 surveyed by Bloomberg expect prices to gain next week and five were neutral. Paulson & Co. is already the biggest investor in the SPDR Gold Trust, the largest exchange- traded product backed by bullion, with a stake valued at $2.9 billion, a Securities and Exchange Commission filing Feb. 14 showed. Investors have 2,389.7 metric tons in ETPs, within 0.2 percent of the record reached in December and more than all but four central banks, according to data compiled by Bloomberg.

Speculators in U.S. gold futures are now their most bullish since September after the Bank of England and Bank of Japan said they will buy more assets and the Federal Reserve said it was considering purchasing more bonds. Central banks are also expanding their bullion reserves, adding 439.7 tons last year, the most in almost five decades. They may buy a similar amount in 2012, the London-based World Gold Council said yesterday.

“The appalling state of fiscal finances of most industrial nations does lead to concerns about the possibility of inflation,” said Mark O’Byrne, executive director of Dublin- based GoldCore Ltd., a brokerage that sells everything from quarter-ounce British Sovereigns to 400-ounce bars. “Gold is a crucial diversification given the various risks out there.”

More on link above...

 

[sinner]

Quite a strong move in aussie gold overnight, as both gold priced in USD rose while the AUD fell against the same. I've got a 40 day high for this nice little breakout, with a few consolidation type supports between 1575-1585.



In 2012, I am still a buyer of physical bullion.

 

[Trembling Hand]

Quite a strong move in aussie gold overnight, as both gold priced in USD rose while the AUD fell against the same.

Quite a bad night T/A wise for AUD.

 

[sinner]

Quite a bad night T/A wise for AUD.

Things just aren't looking good all round for the Aussie economy, I notice AUDLIBOR curve still funky since Jul 2011 and Aus gov bonds are inverted all the way to the 3Y. Something ugly coming down the pipe. Spread between 3M Gov/Corp credit indicates similar.

Gold didn't make highs in USD or EUR last night, but it did in AUD, KRW, NZD and JPY...

 

[Trembling Hand]

Things just aren't looking good all round for the Aussie economy, I notice AUDLIBOR curve still funky since Jul 2011 and Aus gov bonds are inverted all the way to the 3Y. Something ugly coming down the pipe. Spread between 3M Gov/Corp credit indicates similar.

Gold didn't make highs in USD or EUR last night, but it did in AUD, KRW, NZD and JPY...

Yeah funky signals everywhere. We are still better off than EURO, US economies. Got China pumping a bit of cash which got the XJO moving up agains the rest of Asia including china Still a sh!te load of money flushing through the system straight into risk trades yet thats mostely helped AUD not our equities (fundamentally that makes sense but since when did fundamentals stop a bull run??).

 

[Mr Z]

Warren, Ben and Gold

It is likely they will never get it.

 

[sinner]

Re: Warren, Ben and Gold

It is likely they will never get it.

Hi Mr Z,

I read it, but found it poor in comparison to FOFOAs deconstruction of the same...I posted a thread on the topic but nobody replied. Considering the nature of ASF I assumed it would have spurred some serious discussion.

https://www.aussiestockforums.com/forums/showthread.php?t=24349

IMHO FOFOA continues to pump out amazing stuff and his latest missive against Buffetts article in Fortune is as cogent and convincing as ever.

 

[Bron Suchecki]

To $32,659 on 16 Jan 2015

See Elliott Wave analysis chart here http://www.sharelynx.com/chartstemp/GoldeWave.php

Not being an Elliott wave expert, not sure where the fifth wave extension of fifth wave extension comes from, but I'm not arguing with the conclusion.

 

[Trembling Hand]

I thought we were meant to be already at $10,000 during 2012

 

[sinner]

I thought we were meant to be already at $10,000 during 2012

Keep up TH! The new target is >55,000USD for physical and $0 for COMEX GC in 2013!

 

[Trembling Hand]

Keep up TH! The new target is >55,000USD for physical and $0 for COMEX GC in 2013!

Cool. I'll arb it

But seriously she has a lot of work to do before its parabolic. These calls are like the Elliotwave calls for dow 1000 and XJO 500 back in 2009. Sure it may happen but I'm not going call a halt to my business and wait for it.

 

[sinner]

Cool. I'll arb it

But seriously she has a lot of work to do before its parabolic. These calls are like the Elliotwave calls for dow 1000 and XJO 500 back in 2009. Sure it may happen but I'm not going call a halt to my business and wait for it.

Might be different for the AUD is my guess, since we can and do export gold as long as there's enough energy going around to do so. Gold moved up to number 3 in exports behind coal and NG last year, no reason it can't be number 1 and at the right price make the balance of trade stable.

In regards to halting your business, with all due respect sir, this is a battle of savers versus debtors. Your only job in that regard is not to get caught in the middle when the fight is on (since the battleground is your business).

A trader is only another economic agent which can be either debtor or saver; the battle isn't what productive economic activity but rather what store of value do the (really big) producers/savers save in.

 

[Trembling Hand]

Might be different for the AUD is my guess.

Yep that has always been my view too.

In regards to halting your business, with all due respect sir, this is a battle of savers versus debtors. Your only job in that regard is not to get caught in the middle when the fight is on (since the battleground is your business).

Which to me a glance over the PM charts is a while away yet.

 

[explod]

I thought we were meant to be already at $10,000 during 2012

Its not over yet,

he he he.

 

[Trembling Hand]

Its not over yet,

I know you will be waiting for as long as it takes just like a Collingwood fan. No other way, no other possibility

 

[sinner]

Which to me a glance over the PM charts is a while away yet.

The chart is fun, but to a producer shouldn't matter so much, just the availability.

e.g. when my body stores glucose as fat, it doesn't ask 'how much did the hamburger cost?', it simply allocates a portion of all inputs aside in the most efficient form available. It isn't looking for an energy increase by doing so, simply that any surplus energy (after energy costs) can be stored and called upon later.

So with the fat, as with the gold.

It's not a question of the price (chart) of gold at the margins, since when the USD gives way as an efficient storage mechanism, it's not likely to show up on the COMEX GC chart in the way you'd naturally think.

Better question the availability of it at trade surplus/Central Bank sizes. A look at the ECB quarterly ConFinStats is quite enlightening as an example.

 

[explod]

I know you will be waiting for as long as it takes just like a Collingwood fan. No other way, no other possibility

No waiting required,

in 12 years the Dow is up 6% and gold is up 530% and rising

Got gold?

 

[Trembling Hand]

No waiting required,

in 12 years the Dow is up 6% and gold is up 530% and rising

Got gold?

If I held gold for the last 12 years, which is actually only a bit longer than I have been trading, I would be homeless and starving.

So I would have to say I have far far far exceed that rise. Glad I wasn't on it.

 

[Trembling Hand]

Interesting race going on here,