I think it is close to finding some good support. JMO. Still looking for USDX ~85 sometime soon. Maybe it will not happen but I am a little leery of putting a fork in it just yet.
The DX is one time framing it to the recent lows....This will throw the cat amongst the pigeons if it breaks down!
CanOz
I think it is close to finding some good support. JMO. Still looking for USDX ~85 sometime soon. Maybe it will not happen but I am a little leery of putting a fork in it just yet.
Yeah, it looks like a rollover, but every dip on the intraday get bought...Glad i'm not trading it, just use it as an indi...
In some instance there apears to be an element of denial that the gold price was forming a bubble and now the bubble has well and truly burst.
In some instance there apears to be an element of denial that US equities were forming a bubble and ......outcome unknown, for now?
Several regulars have stated for a while that they have been bearish, even naming targets - I had 1500 & 1200 down side possibilities - can't be bothered finding the posts....
There's more to this than what the mainstream 'press' are espousing.....a bit of Sushi?
Oh look, CME have just announced that margins are going up 20% - absolutely no co-incidence at all?
The DX has just made fresh lows, GC 06-13 has closed the gap with 2000 contracts over a 5 min candle.
The gap is still in play, now it either reverses, accelerates through or brackets here, accepting "value"....
CanOz
I don't see any notice on the CME website
Bubble talk, love it... and how do you actually come to that conclusion? Just what is it about this that makes you think it is a bubble and that it has burst? Do tell!
Bubble talk, love it... and how do you actually come to that conclusion? Just what is it about this that makes you think it is a bubble and that it has burst? Do tell!
In some instance there apears to be an element of denial that US equities were forming a bubble and ......outcome unknown, for now?
In some instance there apears to be an element of denial that US equities were forming a bubble and ......outcome unknown, for now?
Several regulars have stated for a while that they have been bearish, even naming targets - I had 1500 & 1200 down side possibilities - can't be bothered finding the posts....
There's more to this than what the mainstream 'press' are espousing.....a bit of Sushi?
Oh look, CME have just announced that margins are going up 20% - absolutely no co-incidence at all?
I am buy a humble trader m'lord but over the last 10 years gold has risen like the dough set out overnight for the morning bake, from US$400 per ounce to US$1,900 per ounce then tracked sideways between US$1,600 per ounce and US$1,800 ounce then "pop" it took just four days to drop more than 10% to below US$1,400.00 per ounce. Call it a "correction" or call it "manipulation", call it what you like...but the bubble definitely burst.
I love it when you guys BS on about margins being lifted like its confirmation of a conspiracy.
Mr Z,
A loaded question?!!!
Has the recent price action been a little too dull, given rise to boredom and left you itching for a tennis match?
P.S. Much as I enjoy a good lynching, I've previously experienced you as more forthcoming when sharing your knowledge.
There you go again, a bubble has certain dynamics NONE of which exist in gold YET. If this where a stock it would be considered a normal correction, given a bull run and sound fundamentals. So why are you calling it a bubble? What specifically makes it a bubble? All you are citing is a price run up, that is by no means defines a bubble. Are you aware that cost have risen to the point that marginal gold production is @ around $1500 oz? What is that? A bubble in costs?
I love bubble talk, everybody spouts it yet so few have any real definition of one!
The market is constantly wrong! If it where not then opportunity would never exist, if it where not then bubbles would never happen.... seriously, you can't have that both ways, after all you are implying that the market was wrong and is now correct simply because it aligns with your view!
Costs: Gold mining costs are not US$1,500 per ounce. In some mines the cost of extracting gold may be as high as US$1,600 per ounce and in others it can be significantly lower. The reality is, mines where the gold is expensive to extract are only brought back into production when gold prices are high enough for the miner to make a profit.
The market is never wrong, it is in a constant flux. The market is the market and what the market is, is the market. It is never wrong, it is the market. If you feel it is wrong then you have probably misjudged the market. Nothing personal.
My views: I don't have a view on gold. I don't trade it. I can only observe it from day to day as to what direction the market is taking it. Irrational exuberance drives gold up (as it does any other stock) and when the oportunity occurs other market factors come into play and drive it down again. Gold has come off the peak of US$1.900+ to sub US$1,400. That is a drop of over 26%. If property values in Australia fell by 26% we would consider that the property bubble had burst.
Not quite sure why we are splitting hairs here. Maybe gold will bounce again and continue the climb back toward the prophesised US$2,000.00 per ounce.
I love it when you guys BS on about margins being lifted like its confirmation of a conspiracy.
Huh? Who said anything about conspiracy - simply mentioning the fact. Do with it what you like. Just seems odd that it (always) happens after the 'correction' lower ie why didn't they act last Friday in the first wave, or even on the 4 April. I do know how margin works.
I respect your views, there's no need to denigrate with <BS>
The CME is raising margin requirements on silver close to 20%...right on CUE!
Costs: Gold mining costs are not US$1,500 per ounce. In some mines the cost of extracting gold may be as high as US$1,600 per ounce and in others it can be significantly lower. The reality is, mines where the gold is expensive to extract are only brought back into production when gold prices are high enough for the miner to make a profit.
The market is never wrong, it is in a constant flux. The market is the market and what the market is, is the market. It is never wrong, it is the market. If you feel it is wrong then you have probably misjudged the market. Nothing personal.
My views: I don't have a view on gold. I don't trade it. I can only observe it from day to day as to what direction the market is taking it. Irrational exuberance drives gold up (as it does any other stock) and when the opportunity occurs other market factors come into play and drive it down again. Gold has come off the peak of US$1.900+ to sub US$1,400. That is a drop of over 26%. If property values in Australia fell by 26% we would consider that the property bubble had burst.
Not quite sure why we are splitting hairs here. Maybe gold will bounce again and continue the climb back toward the prophesised US$2,000.00 per ounce.
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