Gold Price - Where is it heading?

[Uncle Festivus]

Speaking of knowing who has what..........

Germany's central bank has failed to properly oversee the country's massive gold reserves, which have been stored abroad since the Cold War in case of a Soviet invasion, independent auditors say.

The central bank must renegotiate its contracts to gain the right to inspect its gold bars, which are worth tens of billions of dollars and are stored in the United States, Britain and France, the Federal Auditors' Office said in a report to lawmakers obtained by The Associated Press on Monday.

Read more: http://www.foxnews.com/world/2012/1...ntrol-gold-reserves-held-in-us/#ixzz2A3W8BeIv

 

[Joules MM1]

Monday, October 22, 2012




With speculative money exiting, central bank actions should provide support for precious metals

http://soberlook.com/2012/10/with-speculative-money-exiting-central.html

excerpt

This may be a bullish sign for precious metals, particularly gold. With the start of an unprecedented open-ended monetary expansion by the Fed last week (see post), the accumulation of excess reserves by the banking system will increase inflation expectations. And as a number of other central banks (BOE, BOJ, ECB, etc.) pursue similar policies, precious metals prices are likely to see some support. Certainly the heavily negative real dollar rates (see post) across the curve make any rate product and cash far less attractive on a relative basis.

 

[Mr Z]

Bron, would you care to comment on this one?

http://au.news.yahoo.com/latest/a/-/latest/15182799/counterfeit-aussie-gold-sold-in-china/

http://www.silverdoctors.com/300-fa...ia-as-chinese-gold-forgery-factory-uncovered/

.... someone post a link if it has been done! I am old and lazy

 

[Mr Z]

LOL... I just found the seven news piece. Gold plated, I can't believe that they'd fool anyone! They are openly selling them as fake by the looks of it! The gold blogosphere, will no doubt turn this into a tungsten filled nightmare

As they say in Bali, you want to buy a Rolex? Genuine copy!

 

[Joules MM1]

http://www.ft.com/intl/cms/s/0/1c1361b0-1dd1-11e2-8e1d-00144feabdc0.html#axzz2AJ7NdDZe

October 24, 2012 7:26 pm

Chinese miner closer to [74%] Barrick Gold deal

By Helen Thomas in London and Leslie Hook in Beijing

excerpt

“China’s appetite for gold seems to be growing,” said Jake Greenberg, mining specialist at Jefferies, pointing to China Gold’s interest in African Barrick, Zijin Mining’s A$180m (US$186m) offer for Australia’s Norton Gold Fields and Shandong Gold’s A$228m acquisition of a 51 per cent stake in Australia’s Focus Minerals

 

[Joules MM1]

http://wallstcheatsheet.com/stocks/is-barrick-gold-a-buy-after-earnings.html/

The supply side of gold is also bullish. A new extensive study was recently conducted by James Turk, the founder and chairman of GoldMoney, along with the assistance of Juan Castaneda, who has a PhD in Economics and currently teaches at the University of Buckingham in the United Kingdom. The study analyzes data between 1492 and 2011 to conclude that official estimates of the world’s gold stock is overstated by 10.3 percent. Turk estimates that the world gold stock at the end of 2011 was 155,244 tonnes, or 16,056 tonnes below the commonly used World Gold Council estimate.

 

[burglar]

OMG PoG just dropped $32

 

[Mr Z]

4 cast --->

USDX ~85.5

Gold ~ lower 1600's

BUY THE DIP!

 

[Uncle Festivus]

4 cast --->

USDX ~85.5

Gold ~ lower 1600's

BUY THE DIP!

Or dips?

I'm still bearish, at least until, firstly, gold ceases to be correlated with US equities and the approaching sell-off, and secondly until the USD is finally seen as an unbacked IOU, which may still be several <timespans> away??

 

[Joules MM1]

lulz....the irony of bad timing by an uber (fill in the blank).....erm....how about 'death cross'?
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http://www.theaureport.com/pub/na/1... final streetwise-reports 11/02/2012 15:18:11

Some Incredible Gold Charts

Source: Peter Degraaf, Itiswell (11/2/12)

The pattern is called: 'Golden Cross', or 'Bull Cross'. Here is a chart (all charts courtesy Stockcharts.com unless specified), that has a blue arrow pointing to the pattern we are referring to.

 

[Uncle Festivus]

Mostly for the doubters..........explains a few things.

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=194

See also

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=196

 

[young-gun]

Mostly for the doubters..........explains a few things.

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=194

great article, straight to the point. I just wish I had more cash to buy more gold(and silver).

 

[Joules MM1]

Friday, November 9, 2012
Gold lagging previous QE cycles but DB remains bullish



excerpt

.....difference in this monetary expansion cycle from the previous ones is that the new program is having a fairly slow start in terms of its impact on base money.

http://soberlook.com/2012/11/gold-lagging-previous-qe-cycles-but-db.html

etc etc

 

[Mr Z]

It is displacing contracting credit, it will bite sooner or later, money velocity is the key measure.

 

[Joules MM1]

the bearish news and some bullish thinking

http://blog.uncommonwisdomdaily.com/bearish-and-bullish-news-on-gold-9084


Bearish and Bullish News on Gold

by Sean Brodrick on November 15, 2012

 

[Mr Z]

Lazza

 

[GoldMan2012]

hmm...gold price

 

[zac]

I read a report just earlier. One thing I never considered was option writers.
Apparently theres a number of 1750 calls with this week expiry.
So should the 1750 level be breached apparently this will mean lots of buying to cover the calls.

Not sure how much influence that would have on the overall scheme of things but I thought interesting nonetheless.

 

[GoldMan2012]

:rolleyes

 

[Mr Z]

I read a report just earlier. One thing I never considered was option writers.
Apparently theres a number of 1750 calls with this week expiry.
So should the 1750 level be breached apparently this will mean lots of buying to cover the calls.

Not sure how much influence that would have on the overall scheme of things but I thought interesting nonetheless.

It is a monthly thing, they push the price short term to get the options positions to work for them, they are also used to generate liquidity to sell into. i.e. Sell a bunch of puts, short the contract into them and get as many exercised as you can. The geeks get into some really complex setups with options, not at all simple to analyze! It is all gravy if you are big enough to move the market in the short term.

--> Silver is looking shiny for now! Impressive strength relative to gold.