Gold Price - Where is it heading?

[CanOz]

You gold bugs short?

Gold getting smashed

Last Fed minutes indicated that they could take away the punch bowl...

 

[FlyingFox]

Crack-pot or hero?

http://mayanmajix.com/art526.html

Conspiracies, Senator Wellstone death

http://www.youtube.com/watch?v=3Vbf49kzWFw

& religious influence on America .....

Add another one to the list

http://etfdailynews.com/2013/01/03/...-possible-price-of-gold-gld-slv-iau-sgol-ugl/

I find it quite surprising not to mention alarming that no one has actually seen the gold in Fort Knox let alone audited it in the last 60 years.

 

[Garpal Gumnut]

Add another one to the list

http://etfdailynews.com/2013/01/03/...-possible-price-of-gold-gld-slv-iau-sgol-ugl/

I find it quite surprising not to mention alarming that no one has actually seen the gold in Fort Knox let alone audited it in the last 60 years.

Good point.

I have 20oz of Perth bars buried in garpalgarden, that I bought many years ago with a lotto win. Just in case the whole world ever goes to crap.

They have been as low as $12000 and as high as $32000, as they are now, I suspect they will retreat to $20000 before the end of 2013. But I'm happy holding them in case the bad guys come through our porous borders.

gg

 

[FlyingFox]

Good point.

I have 20oz of Perth bars buried in garpalgarden, that I bought many years ago with a lotto win. Just in case the whole world ever goes to crap.

.......

gg

Hahahahaha....that put a smile on my face. Reminded me of something my grandfather would do/did. Or perhaps under the mattress.

 

[explod]

An interesting correlation between the US debt limit and the gold price.

http://dollarcollapse.com/precious-metals/tom-cloud-the-pieces-are-in-place-for-a-gold-rally/

Looks like we are heading for US$2,000 gold soon.

 

[Trembling Hand]

Looks like we are heading for US$2,000 gold soon.

is that not the same "soon" we have been in for the last 2 years? Could ya define that soon for us?

Delussion and dreams aside,

Possible absorption Friday. Good swing trade from here given a move upwards "soon". Good for a hundgie over next month? pick ya stop a bit lower than the last Fridays.



Same trade/pattern with this paper weight (or should that be "wait"),

 

[explod]

The action will determine the time.

Of the five chart pennants since 2001 all broke out to the upside. The current one is at that point where it has to go one way or the other within a month or two.

Will this sixth one break to the downside, could but with the currency war now on us, Japan now into it, an upside break will not be far away in my view. Average breakouts through previous tops have been about 25% so could see US$2,500 for this next one. April would not surprise me.

No value in guesses though, we will see.

 

[Garpal Gumnut]

The action will determine the time.

Of the five chart pennants since 2001 all broke out to the upside. The current one is at that point where it has to go one way or the other within a month or two.

Will this sixth one break to the downside, could but with the currency war now on us, Japan now into it, an upside break will not be far away in my view. Average breakouts through previous tops have been about 25% so could see US$2,500 for this next one. April would not surprise me.

No value in guesses though, we will see.

This is a kitco chart since 2000, to now.

It looks a bit toppy to me.



If you put a gun to my head I'd say it will retreat.

gg

 

[Trembling Hand]

It looks a bit toppy to me.

Have you seen the chart of funny money?

 

[Lone Wolf]

This is a kitco chart since 2000, to now.

It looks a bit toppy to me.

Out of interest - Would you have said the same back when the chart looked like this?

 

[explod]

Some good points raised. Look at Japan their debt per head is now ridiculous but still they hold on by producing more paper.

The system could be a long way from the Weimar republic scenario for some time and gold kept in check. The US got a big shock in the collapse first of the Dot com, the property market but in particular the near seizure of money flow and near full collapse of the banks in 08, so they will get those presses stalling it all to the bitter end now.

However the debt figures of Obama's regime approaching the round figure of 20 trillion could start to sink in to more minds this year as that mark will be approached. The debt has virtually doubled since George Bush jn. left the scene.

On the chart gg. the proportion of the older pennants become lost in the shadow of each larger one. Though have to admit the overall trend appears to be exponential. However a glance at the 1970 to 1980 chart will show that the current one still looks tame. Is it different this time or worse? worth a ponder. Will locate and post up some charts to bring it into perspective for us tomorrow if I can.

 

[explod]

This is a kitco chart since 2000, to now.

It looks a bit toppy to me.



If you put a gun to my head I'd say it will retreat.

gg

Gg., this one give the overall picture including the 1980 spike.

http://www.the-privateer.com/chart/usgmonth.html

The current trend from 2000 looks fairly steady IMV and certainly not the steep ascent of 1979

And this the complete current one:

http://www.the-privateer.com/g-bottom/gold98-l.html

The charts in two year blocks detailing the respective upside breaks are not available from the web-page due to technical problems and should be back in about a week. So keep an eye on this space.

For the charts thus displayed I wish to acknowledge ":The Privateer" newsletter. http://www.the-privateer.com/gold.html

 

[Trembling Hand]

Possible absorption Friday. Good swing trade from here given a move upwards "soon". Good for a hundgie over next month? pick ya stop a bit lower than the last Fridays.

Bit of support building but no move yet.

 

[Uncle Festivus]

Bit of support building but no move yet.

Pssst! Risk on! Patience?

Still think the next major move will be down, unless/until the usual caveats......debt ceiling will be avoided/increased, kick the can a bit longer.

Japan now joining the slush funds printing (even) more money....step right up, where it goes nobody knows - well we do actually....

Some talk of a Yen carry into gold - if they only had 1% in gold it would explode yada yada - where have we heard that before?

 

[Garpal Gumnut]

Pssst! Risk on! Patience?

Still think the next major move will be down, unless/until the usual caveats......debt ceiling will be avoided/increased, kick the can a bit longer.

Japan now joining the slush funds printing (even) more money....step right up, where it goes nobody knows - well we do actually....

Some talk of a Yen carry into gold - if they only had 1% in gold it would explode yada yada - where have we heard that before?

Agree Uncle.

gg

 

[Trembling Hand]

Pssst! Risk on! Patience?

Still think the next major move will be down, unless/until the usual caveats......debt ceiling will be avoided/increased, kick the can a bit longer.

Oh... Too late. Buy stops triggered,

 

[notting]

Can't imagine who was buying gold last night.....
Did any one come out with a slightly more honest reading on their inflation today?
Oh yes, and Saudi Arabia has cut oil production substantially, moving to fend off a growing overhang in world oil supply.
Not good for further inflation in China which is heavily geared to the price of oil.

 

[DB008]

REPORT: GERMANY TO REPATRIATE GOLD FROM US, FRANCE

BERLIN (AP) -- Germany's central bank will repatriate some of its massive gold reserves stored in vaults in the United States and in France, a business daily reported Tuesday.

The Bundesbank's overall reserves of 3,400 tons are worth about $200 billion at current market rates.

The central bank now plans to bring back to Germany some of the 1,500 tons of gold stored in the vaults of the Federal Reserve in New York, and all of the 450 tons currently stashed with the Bank of France in Paris, according to Handelsblatt.

The central bank declined to comment on the report but on Wednesday will present a new plan to manage the gold reserves of 270,000 gold bars, the world's second-largest stockpile trailing only the U.S. reserves.

http://hosted.ap.org/dynamic/stories/E/EU_GERMANY_GOLD_RESERVES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

 

[notting]

REPORT: GERMANY TO REPATRIATE GOLD FROM US, FRANCE

Looks like they have finally decided to invade Greece.

 

[Trembling Hand]

Moving along in the right direction. Stops nudged up a bit.