Gold Price - Where is it heading?

[CanOz]

Op Twist =QE3?

I thought QE3 was the fed buying more distressed assets?

 

[notting]

Glad I've being buying alot of Gold stocks over the last few days, however, I'm a tad nervous that it's just a short covering bounce.

 

[Joules MM1]

in the nearterm

julian ct ‏@joulesmm1

golds bounce all but done me thinks......1598 crucial level to hold for shorts.....my shorts anyhoo

:karate:

 

[Logique]

But wait, don't lower your glasses...

http://www.kitco.com/reports/KitcoNews20120518JW_pm.html
[P.M. Kitco Metals Roundup]

..Gold produced a bullish weekly high close on Friday, which is an early technical clue that a near-term market bottom is in place for the yellow metal. June gold last traded up $14.90 at $1,589.80 an ounce...

 

[explod]

http://stockcharts.com/h-sc/ui

Looks like a reversal.

Need to type over $GOLD then enter for the weekly chart in question.

 

[Trembling Hand]

http://stockcharts.com/h-sc/ui

Looks like a reversal.

Need to type over $GOLD then enter for the weekly chart in question.

Maybe Explod. Certainly at a critical point thats for sure.

 

[CanOz]

Nice COT indicator there TH! I see the commercials look to be starting to unwind their shorts?

CanOz

 

[aclassic]

Hi,
Uncle Festivus - "So what do you exchange your Euro's for?"
Great question
Answer = USD
What do you make of our recent phenominum of the USD being called the "safe haven", the idea seems to have caught on.

he he.https://www.aussiestockforums.com/forums/images/icons/icon4.gif

 

[Uncle Festivus]

Hi,
Uncle Festivus - "So what do you exchange your Euro's for?"
Great question
Answer = USD
What do you make of our recent phenominum of the USD being called the "safe haven", the idea seems to have caught on.

he he.https://www.aussiestockforums.com/forums/images/icons/icon4.gif

It's all about relative 'safeness' at any point in time, doesn't mean the USD is 'safe', as on most measures the USA is only barely better than the basket case countries the market is having a spew about now.

It's all about contagion too, as doubt feeds doubt which feeds a negative feed-back loop which rather upsets the paper money ponzi somewhat.

Keep watching China for the real black swan from left field........

Although with Lava Girls' mates getting hammered there might actually be real price discovery with PM's now (sound of crickets.....) sorry, having a dream sequence there

 

[sinner]

If you think that's not much check this out, seven weeks with almost no marginal supply or demand.

That's some nice momentum over the last two days, I guess that makes 1620-1625 pretty important short-term.

 

[aclassic]

Although with Lava Girls' mates getting hammered there might actually be real price discovery with PM's now (sound of crickets.....) sorry, having a dream sequence there

Hey Man, I must have been livin under a rather large rock - ya lost me, have I been missin out on somthin good?
I Googled lava girl - he he he
cheers

 

[Joules MM1]

Nice COT indicator there TH! I see the commercials look to be starting to unwind their shorts?

CanOz

i'm still short since last weeks high ......

https://www.aussiestockforums.com/forums/entry.php?b=956

did notice weekly bar as TH pointed out but it just hasnt/didnt gett he same accum signals i would expect.......so i'm hanging on for a final leg down as silver is probably the key signal in its make-up

i suspect i'm about to be satisfied or a visit to the proctologist is in order

 

[Joules MM1]

Peter Brimelow Archives | Email alerts

May 21, 2012, 1:27 a.m. EDT
Gold bushwhacks bears
Commentary: Is a central bank buying?


http://www.marketwatch.com/story/gold-bushwhacks-bears-2012-05-21

When MarketVane’s Bullish Consensus for gold hit 51% on Wednesday, it was at the lowest except for one day — 49% on Nov. 13, 2008 — for many years.

The far-sighted Australian bullion commentary The Privateer thinks something really significant has happened.

This weekend it observed: “What is interesting about the snap-back this week — in both the physical and paper forms of gold, including gold stocks — is that gold has once again started to rise, while other asset markets (especially stock markets) are still falling.”

Another positive voice, from an unusual source, is veteran gold analyst Frank Veneroso. ......

 

[Joules MM1]

i'm still short since last weeks high ......



i suspect i'm about to be satisfied or a visit to the proctologist is in order

ring ring

hello

yeah, i think i need to make an appointment

 

[Joules MM1]

China, central banks and ETFs underpin demand for gold
17 May, 2012

http://www.gold.org/media/press_rel...tral_banks_and_etfs_underpin_demand_for_gold/

 

[Joules MM1]

Silver and shorting

Bill Murphy of GATA and LeMetropoleCafe, Rare Sunday Commentary
"CFTC may be Forced to Do Something soon about the Silver Shorts."

http://sherriequestioningall.blogspot.com.au/2012/05/bill-murphy-of-gata-and-lemetropolecafe.html

excerpt

This latest investigation into JP Morgan might be a big deal for the GATA camp. This is actually quite complicated, but very intriguing. The CFTC has been investigating JPM’s role in the silver market manipulation scheme for what will be four years soon. FOUR YEARS! Good friends, like Dave from Denver, have nothing but loathsome talk about the CFTC, for good reason. GATA’s rationale (speaking for myself) about this ridiculous investigation is that the CFTC really has uncovered the scam, but because it is backed by the US Government, they are flabbergasted about what to do, so they do nothing.

 

[Uncle Festivus]

Hey Man, I must have been livin under a rather large rock - ya lost me, have I been missin out on somthin good?
I Googled lava girl - he he he
cheers

Lava Girl - Blythe Masters is the chief of commodity trading at JPM, and the apparent mastermind behind their gargantuan short position in silver, see Joules post above about CFTC......

 

[mr. jeff]

Glad I've being buying alot of Gold stocks over the last few days, however, I'm a tad nervous that it's just a short covering bounce.

What are you buying, I'm looking.

list them-

IGR, TRY, NST, GRY, NCM, AQG, EVN that's what I'm thinking has promise.

I've thought about TAM, DRM, AZM, AZH, RMS, SAR, MYG, PXG, PIR, LSA and found nothing at the moment worth taking on relative to above list. Don't say RED.

Thoughts ?

 

[notting]

What are you buying, I'm looking.

I baught NCM,TRY,SLR,NST.
Took some semi profits yesterday to give me room for the possibility of greater weekness.
TRY is the one I value the most and oddly performed the worst in this bounce, though it had not tanked as aggresively just recently.
I also had a short on RSG which paid, that was more of a technical hedge.

 

[Joules MM1]

covered gold short at 82's looks to me like we're headed to at least test 1602's

India going to default on loans.......

http://www.reuters.com/article/2012/05/22/us-india-devaluation-idUSBRE84L0N920120522