Gold Price - Where is it heading?

[Trembling Hand]

This is the worst thread on the whole internet......................

 

[Mr Z]

This is the worst thread on the whole internet......................

You come up with some really insightful stuff! Clear thinking, well reasoned, unemotional, hard edged cut through!

I thought you'd left?

 

[Trembling Hand]

You come up with some really insightful stuff! Clear thinking, well reasoned, unemotional, hard edged cut through!

Well there is only room for one trading guru in this thread, you, so I've decided to just play the fool....

Look I even went and bought some crap in a down trend......

 

[Mr Z]

Well there is only room for one trading guru in this thread, you, so I've decided to just play the fool...

LOL, now you are just being a dick. What happened? Trade go against you?

 

[prawn_86]

Lets try and keep this thread civil please.

The more expanive and explanatory our answers and responses are the more educational it will be for anyone who is reading but not commenting.

Thanks

 

[Mr Z]

Lets try and keep this thread civil please.

I dunno, it is a gold thread, can it be done?

 

[Trembling Hand]

LOL, now you are just being a dick. What happened? Trade go against you?

Don't know yet. I've only owned it for 2 hours. Though the poor ba$tard that sold the trinkets to me is coming back next week with a lot more - he NEEDS cash after going all in much higher. :1zhelp:

Just another idiot that believed it was going straight to $10,000......0

 

[Mr Z]

Just another idiot that believed it was going straight to $10,000......0

Its a fever...

 

[CanOz]

Don't know yet. I've only owned it for 2 hours. Though the poor ba$tard that sold the trinkets to me is coming back next week with a lot more - he NEEDS cash after going all in much higher. :1zhelp:

Just another idiot that believed it was going straight to $10,000......0

LOL...this thread has taken a very ironic turn...

 

[Mr Z]

LOL...this thread has taken a very ironic turn...

Only real goldbugs get that PO'd when gold goes down....

 

[CanOz]

Gold is postering near the gap again....if we get a pop out of the gates and more short covering in Europe, maybe we'll close that gap...

 

[Trembling Hand]

LOL...this thread has taken a very ironic turn...

Yeah i'm setting up a charity to help out all the poor blokes who were going to become rich "investing" in gold the last 3 years but now cannot even afford to eat.

 

[skyQuake]

Yeah i'm setting up a charity to help out all the poor blokes who were going to become rich "investing" in gold the last 3 years but now cannot even afford to eat.

Is said charity short gold?

 

[Mr Z]

Gold is postering near the gap again....if we get a pop out of the gates and more short covering in Europe, maybe we'll close that gap...

Goldmans SS vill not allow it to happen!!!!!!

Sey vill stomp on it vid dere jak boots!!!!!

Ve have ways of makin you short! irate:

 

[Mr Z]

Some mutterings about the second half...

Strong USD in a risk on trade financed by those crazy Japanese! Mebe... Stocks up, commodities up, PM's up, Real Estate up, Rates up and bonds down. AUD down in the process This could play very well for us lot down here. Seems a little contradictory no? Looks like the Fed might finally succeed in getting that money moving, this will not be about economic strength as much as global capital movement. Is the USD the best looking horse at the glue factory?

This could get loopy and more than a little counter intuitive.

I think that Ray has been on the money...

Older article but....!

http://www.bloomberg.com/news/2013-02-12/bridgewater-bets-on-stocks-as-cash-moves-into-market.html

 

[sinner]

Is the USD the best looking horse at the glue factory?

No.

 

[Mr Z]

No.

I think you may very well be surprised how this plays for a little while.

Approaching critical levels as we go into the US summer.

I will be watching with interest.

 

[sinner]

I think you may very well be surprised how this plays for a little while.

Approaching critical levels as we go into the US summer.

I will be watching with interest.

Fortunately for me, since I believe that gold bids for currency (rather than the other way around) my view of whether the USD is "the best looking horse at the glue factory" is only going to surprise if the Federal Reserve starts a program of buying gold for printed dollars, and succeeds.

Meanwhile, net producers continue to bid for gold flow using surplus productivity, busy doing whatever it is that generated the surplus.

Of course, this kind of story is far less sexy than vague prognostication and attribution to the evil Goldman Sachs. Why not just post a chart with some numbers and leave it at that?

 

[Mr Z]

Why not just post a chart with some numbers and leave it at that?

OK! So sorry, you take it from here!

CYA

 

[CanOz]

From the Technical Speculator

April 24, 2013: Market Minute: The outlook on gold

The price of gold has broken a key support level at $1550 in early April. Though the metal has rebounded off of $1400, the outlook has deteriorated recently due to the higher import tax from India, a slowing world economy and higher levels on the U.S. Dollar.

Gold is expected to bounce up to the $1540-$1550 resistance level in May before declining again.

The longer term view is for gold to move down to the lower support of $1250-$1200. The 12-year bull market appears to have ended.

It is indeed surprising that the enormous stimulus program from the Fed has not diluted the US$ or caused the underpinnings for inflation. Both of which would be positive for gold prices.


Donald W. Dony, FCSI, MFTA