Gold Price - Where is it heading?

[explod]

Dr. Paul Craig Roberts is a former Assistant Secretary to the US Treasury and no mug.

Dr. Roberts: “You can’t retain a stable exchange value of your currency while you print it in enormous quantities. So, at some point it has to shake the confidence of the rest of the world in the dollar as the reserve currency.


We already know about efforts to move away from the use of the dollar as the reserve currency. We know the BRIC’s are making agreements to resolve their trade balances with one another in their own currencies. That’s Russia, China, Brazil, South Africa, India. It covers most of the geography of the world.


There are reports that Japan and China, despite their disputes over islands, are working to conduct their trade in their own currencies. As the use of the dollar as the reserve currency for transactions or as a store of value declines, then the demand for dollars declines, so its exchange value in currency markets declines.


The Federal Reserve can print all of the money it needs in order to support bond prices, but printing dollars doesn’t support the dollar price. And the Fed has not the power to print foreign currencies with which to support the dollar price. So the dollar is the vulnerable spot in the Fed’s policy management, and the popping of the bubble is likely to come from the dollar.”

full item and references at : http://kingworldnews.com/kingworldn...ficial_-_Fed_Desperate_To_Avoid_Collapse.html

The newswires seem very active this weekend and though a bearish tone for this week I suspect it could be interesting on the markets and gold usually responds some days later, say a week or so from now.

Just my Vibe.

 

[notting]

My vibe was that we were in for a bounce, on Thursday it looked like it was all over, but Friday it felt again like it had been re-invigorated.

Yet I don't get that impressed with articles like the above downing the US$.
Especially given that there is printing going on all over.
It's hard to imagine the US$ it could be more vulnerable than the Euro, Yen or Pound.
I found it quite extraordinary that the Euro recovered as well as it did from it's lows against the US$, given the Spanish and Italian situations even the French situation is dire.
These things have all been overvalued for decades from an Ausi perspective and Gold perspective.
Just gotta wonder if the correction has fully played out.

You do hear most commentators, fund managers, guru investors and traders say they are bullish long term on gold, but short term bearish.

Gold stocks themselves seem to have overshot to the downside but given their capacity for volatility they could do a fair bit worse before they stabilise and trend higher again.

Although if SLR stays where it is on Monday I will be buying.

 

[CanOz]

Interesting situation with the DX though...dollar strength is keeping a lid on gold and oil....

 

[CanOz]

Interesting situation with the DX though...dollar strength is keeping a lid on gold and oil....

Just got home and checking the markets..the DX got hammered the last two sessions...Oil is still in an uptrend..

Will post a GOLD / DX chart later....

CanOz

 

[CanOz]

Gold has done a great job in the face of dollar strength, which appears to have pulled back...

 

[zac]

How do you think the market will react on open to the news of Cyrprus raiding up to 10% of Bank Deposits?
I imagine a flight from EUR to USD, I dont know what it will mean for Gold..
Will it mean a move to the ultimate currency? or will the drive in USD lower Gold.

 

[CanOz]

How do you think the market will react on open to the news of Cyrprus raiding up to 10% of Bank Deposits?
I imagine a flight from EUR to USD, I dont know what it will mean for Gold..
Will it mean a move to the ultimate currency? or will the drive in USD lower Gold.

Great question Zac! Our markets will be the first to price this in...a non event or a game changer?

CanOz

 

[explod]

Great question Zac! Our markets will be the first to price this in...a non event or a game changer?

CanOz

Up US$15 on a Monday open is new.

 

[young-gun]

Having a bit of a lazy you tube sunday and came across this seminar by Mike Maloney. I think he perfectly sums up where we are headed, and does so very well imo. It's a bit lengthy but interesting if anyone is up for it.

Link: http://www.youtube.com/watch?v=tj2s6vzErqY

The underlying topic of the video is gold and it's future.

 

[FlyingFox]

Having a bit of a lazy you tube sunday and came across this seminar by Mike Maloney. I think he perfectly sums up where we are headed, and does so very well imo. It's a bit lengthy but interesting if anyone is up for it.

Link: http://www.youtube.com/watch?v=tj2s6vzErqY

The underlying topic of the video is gold and it's future.

BTW Mike is speaking in Melb and Syd this coming week.

 

[young-gun]

BTW Mike is speaking in Melb and Syd this coming week.

Really? any idea if hes coming to bris?

TBH I imagine he would have much the same to say as he did in the above link. Not much has changed since this vid, only the fed has ramped up QE even further and bubbles are once again forming.

 

[FlyingFox]

Really? any idea if hes coming to bris?

TBH I imagine he would have much the same to say as he did in the above link. Not much has changed since this vid, only the fed has ramped up QE even further and bubbles are once again forming.

no just Syd and Melb. I believe the guys from Guardian Vaults are bringing him over.

I believe it will be a seminar incorporating various things including the vid you linked as well as how to invest in precious metals.

 

[zac]

Having a look at the latest COT data, Ive found it interesting, the divergence between Gold and Silver.
More longs entered on Gold but Silver is the opposite.

 

[So_Cynical]

Having a bit of a lazy you tube sunday and came across this seminar by Mike Maloney. I think he perfectly sums up where we are headed, and does so very well imo. It's a bit lengthy but interesting if anyone is up for it.

Link: http://www.youtube.com/watch?v=tj2s6vzErqY

The underlying topic of the video is gold and it's future.

16 Aug 2011, don't know if this is as relevant now.

Gold stocks getting hammered with most of the ones im watching hitting new 52 week lows over the last few weeks...there is an opportunity coming but were not quite there yet.

 

[FlyingFox]

16 Aug 2011, don't know if this is as relevant now.

Gold stocks getting hammered with most of the ones im watching hitting new 52 week lows over the last few weeks...there is an opportunity coming but were not quite there yet.

Just watching this now. Have to agree with SC, lost some relevance while other parts are still applicable today. Having said that he is a good speaker and presents some interesting facts. One of the best simple descriptions of the currency cycle I have heard....

 

[notting]

Can't believe people get sucked into this scamsters (Mike Maloney) rubbish.
Go be a sucker and attend his Sprooking seminar make sure you buy all the crap offered there too.
Make him rich that way, cause he can't do it trading gold.

 

[zac]

Can't believe people get sucked into this scamsters (Mike Maloney) rubbish.
Go be a sucker and attend his Sprooking seminar make sure you buy all the crap offered there too.
Make him rich that way cause he can't do it trading gold.

I've heard that about him, but whats his scam?
As for his theories on Gold, theyre widely known and shared.

So Ive often wondered what is he selling?

 

[FlyingFox]

Having a look at the latest COT data, Ive found it interesting, the divergence between Gold and Silver.
More longs entered on Gold but Silver is the opposite.

Can't say I understand it either. Kinda hearing two reasons for the silver shorts:

1) Price manipulations by the bullion banks.
2) hedge (and intrinsic price manipulation) by the bullion banks for their physical acquisitions (http://www.silverdoctors.com/is-jp-...g-massive-physical-stockpiles-of-gold-silver/).

Which one is it or something else? Don't know.

Current gold longs maybe due to the Cyprus situation??

 

[FlyingFox]

Can't believe people get sucked into this scamsters (Mike Maloney) rubbish.
Go be a sucker and attend his Sprooking seminar make sure you buy all the crap offered there too.
Make him rich that way, cause he can't do it trading gold.

As opposed to the Stock Market scamsters?

Costs you nothing to listen on you tube. You can then make up your own mind.

 

[zac]

The recent rise in gold even though it was minimal and subdued does seem to be due to Cyprus.

I was surprised to see Silver slowly get lower but thanks for that article, it says it all.

Does this mean that due to the manipulation, and I know as theyve become a basel currency will this mean that the current levels (or lower) wont be reached ever again when Banks are happy they have amassed enough booty??