Gold Price - Where is it heading?

[Mr Z]

As I am sure many have noticed the BRIC's and Co are slowly creeping away from the USD...

http://www.taiwantoday.tw/ct.asp?xItem=196382&ctNode=445

I wonder how long this goes on before it provokes some action from the US, breaking the petrodollar would create some unwelcome issues for them.

 

[Joules MM1]

http://www.usfunds.com/investor-resources/frank-talk/all-signs-pointing-to-gold/

All Signs Pointing to Gold

September 17, 2012



good read

 

[Joules MM1]

oh, you everything-conspiracy nuts are gunna love this:

http://www.businessinsider.com/tung...tton&utm_medium=social&utm_campaign=moneygame

( the eye in the sky chopper is standing by for response posts ...... )

 

[Joules MM1]

dstm, ok.....

-------------
http://www.businessinsider.com/thes...ument-goldbug-investors-have-ever-made-2012-7

part i

These Charts Destroy Nearly Every Argument 'Goldbug' Investors Have Ever Made
Rob Wile | Jul. 13, 2012, 12:59 PM

Read more: http://www.businessinsider.com/thes...tors-have-ever-made-2012-7?op=1#ixzz26yPaLKOF

part ii

These Charts Destroy Nearly Every Argument 'Goldbug' Investors Have Ever Made



Myth 1:

http://www.businessinsider.com/thes...2-7#myth-1-gold-provides-an-inflation-hedge-1

 

[Mr Z]

:bbat:

 

[Joules MM1]

:bbat:

say, is that one of those heavy, err, tungsten bats.........

:couch

 

[Mr Z]

say, is that one of those heavy, err, tungsten bats.........

:couch

Is that a loaded question?

 

[Joules MM1]

kachiiiing

.......Consumers in India cannot have enough of the yellow metal. Earlier, the Gitanjali Group had unveiled an ATM-like machine, which was dispensing gold and diamonds.

The vending machine, where one could purchase medallions, coins or jewellery, has become a major hit in the country, with the company planning to set up 75 such gold and diamond ATMs at premium malls, airports and temples in the next three years.

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=158762&sn=Detail&pid=110649

 

[Joules MM1]

http://www.incrediblecharts.com/tradingdiary/2012-09-20-gold-forex.php

goldbugs index

 

[young-gun]

just finished watching a doco 'end of the road' a mate lent me. Pretty interesting.

http://100thmonkeyfilms.com/endoftheroad/

 

[Joules MM1]

if there was a room full of gold bugs the odds that any two would have the same price target would be slim to nil.......but they'd all agree on one thing.......it's going to be massiiiiiiive.....

and here's another one......

Rob McEwen: gold should be in your portfolio and it's going to $5,000

In an upbeat presentation at the Denver Gold Forum, Rob McEwen forecast that gold is going to $5,000, while setting out the path forwards for the company which now bears his name - McEwen Mining.

http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=158424&sn=Detail&pi

-------------------------------------------------------------------------------------
what's that skip? you can hear the gnashing of gold teeth?

http://www.forbes.com/sites/abrambr...waters-dalio-latest-gold-bug-to-bash-buffett/

More than that, Dalio’s love of the yellow metal is opposite to the thinking of Berkshire Hathaway‘s Warren Buffett. Buffett has decried gold’s usefulness, most recently in a letter to Berkshire investors. “Gold, however, has two significant shortcomings, being neither of much use nor procreative,” Buffett writes. “True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.”

Not so, says Dalio. When asked if Buffett was wrong, he replies, “I think he’s making a big mistake.” (Einhorn has echoed a similar sentiment about the Oracle of Omaha’s stance on gold.) Dalio adds that, long term, gold is not the best investment because it’s an alternative to cash.

 

[Mr Z]

if there was a room full of gold bugs the odds that any two would have the same price target

.... they normally can't even settle what day of the week it is.

 

[sinner]

One notion I have in my head is that it is the holder of the new reserve currency that puts an end to this gold bull market. The final price of gold will be quoted in Yuan maybe... or ???? New USD! or????

Not Yuan, not "NUSD", it will be EUR.

As per Martin Armstrong's argument I'm not sure it is possible to hyperinflate the reserve currency without first causing some major dislocation that would end the attempt. He believes we'd end up in a war first, I think he is right. So the questions revolve around the US keeping reserve status and if not how do things change, is it peacefully relinquished or is it part and parcel of conflict? Maybe we quietly slink away from the USD, but I doubt it.

Simple solution: don't have a reserve currency. Look at the ECB monthly/quarterly ConFinStat for the "new way". USD will become an "internal only" currency (i.e. not used to balance trade), oil and gold will be transacted in EUR. Gold will take on the role of trade balancer and reserve asset (store of value).

Look, we can all agree, the hyperinflation in USD already happened over the last 30-40 years. The market (largely foreign CB of trade surplus countries and the 3rd world) chose to support this "system" in spite of this.

So: it's not like we are sitting around waiting for a hyperinflation to occur, it already did. What we are waiting for is withdrawal of structural support. At this point support "at the margin" is coming from China, who took on the job as the Europeans started to wind down their support after 1999.

 

[Joules MM1]

Deutsche Bank: Here's How To Know When Gold Prices Are Too High
|14 minutes ago

Read more: http://www.businessinsider.com/deutsche-bank-when-gold-prices-get-too-high-2012-9#ixzz27PMAJ0Yr

 

[Joules MM1]

some wood to chop ....i still have (pared) shorts on gold (see xao banter thread)

 

[Joules MM1]

minor ratios giving r/r levels nicely.....rocketeers may have to wait a day or three.....non farm payroll should ignite

if the vpoc zones fail, i'm looking for 1730 gold or 32.90 silver longs

 

[Joules MM1]

Rickards sez, Australians should buy gold.......


video

http://video.foxbusiness.com/v/1858853786001/rickards-we-are-in-a-currency-war/?playlist_id=87061

 

[sinner]

Rickards reckons he is the bomb and always plays it as if he has some secret connection to the inside world of gold when it's obvious he isn't the bomb and knows pretty much nothing about the internals of the gold market.

Also, FOFOA broke down his supposed ideas about gold confiscation ages ago

http://fofoa.blogspot.com.au/2011/11/discussion-forum.html

 

[>Apocalypto<]

i have a buy on gold atm... fair support around 1755 looking for 1770 as long as my stop stay in tact, ent at 1762.60.

 

[>Apocalypto<]

i have a buy on gold atm... fair support around 1755 looking for 1770 as long as my stop stay in tact, ent at 1762.60.

trade closed,

looking for a continuation sell have also sold crude. weak euro session coming up me hopes