Gold Price - Where is it heading?

[sinner]

No.

As was historically, to be exchanged only for like tangible goods; ie. land, shelter or food

Money came into being because not all would (lazy) or could take part in the bartering system.

So when you said, "real gold is money, paper gold is trash", could you please clarify exactly what you meant?

 

[explod]

So when you said, "real gold is money, paper gold is trash", could you please clarify exactly what you meant?

You are trying to twist it ole Pal,

what I said exactly was "Real money is in gold, paper money is trash"

 

[ROE]

When I go to Dan Murphys, I use my visa card, not Gold.

gg

I take it's Visa Gold card?

 

[Garpal Gumnut]

I take it's Visa Gold card?

Is there any other?

gg

 

[Uncle Festivus]

For scorn & mirth of those who mock will become anger towards those who have failed you.

What's happening with the POG has been predicted here for quit a while by a few of us, & I've been waiting for years for it to finally 'base' with the so called weak hands getting out. For while gold will get hammered down again over the next few weeks it will be nothing compared to what will happen to equity markets over the next few months, or whatever time the tipping event triggers.

Get used to more 'flash crashes' from the bots, only there won't be a miraculous rebound and the leveraged longs will have to stump up margin calls causing cascade selling. Get used to waking up to limit down equites markets where you are locked out of getting out of your trade, long or short.

It won't matter how much 'glue' they are printing every month to prop up a structurally flawed system as the fundamentals will eventually have to be priced in. As it is now equities are priced to perfection - perfection in a rebound in earnings that hasn't yet eventuated.

I don't know if gold is the answer but as it stands now what else is there?

 

[Intrinsic Value]

I wouldn't be writing off gold too quickly.

It may slide in the short term but there are a number of good reasons why it might remain high as well.

Many of the emerging economies value gold quite highly and people buy it as a hedge. That includes the Middle East, SE Asia , and India. There is very strong demand for gold in economies that are growing strongly.

Secondly and probably more importantly the world economy is still in a very fragile state and it wouldn't take much for another crisis to happen. With record sovereign debt in many countries and record low interest rates as well what happens if interest rates start to rise? Big problem that is what. Countries start defaulting and then it gets scary and then people retreat to gold.

 

[Garpal Gumnut]

For scorn & mirth of those who mock will become anger towards those who have failed you.

What's happening with the POG has been predicted here for quit a while by a few of us, & I've been waiting for years for it to finally 'base' with the so called weak hands getting out. For while gold will get hammered down again over the next few weeks it will be nothing compared to what will happen to equity markets over the next few months, or whatever time the tipping event triggers.

Get used to more 'flash crashes' from the bots, only there won't be a miraculous rebound and the leveraged longs will have to stump up margin calls causing cascade selling. Get used to waking up to limit down equites markets where you are locked out of getting out of your trade, long or short.

It won't matter how much 'glue' they are printing every month to prop up a structurally flawed system as the fundamentals will eventually have to be priced in. As it is now equities are priced to perfection - perfection in a rebound in earnings that hasn't yet eventuated.

I don't know if gold is the answer but as it stands now what else is there?

Uncle, with respect you pose a dangerous scenario.

If the Indons suddenly invaded in a chaotic future Asian scenario, would I dig up my 30oz of WA gold before saving my online assets to a memory stick, and fleeing south of the Brisbane Line.

I'm not that sure.

Gold is passe in my opinion.

Only suitable for blushed brides and bots, with a product to trade.

Gold in my opinion ain't worth a crock of ****.

gg

 

[Uncle Festivus]

The show is only just starting......

 

[Garpal Gumnut]

The show is only just starting......

So are you a bear on gold?

gg

 

[Uncle Festivus]

So are you a bear on gold?

gg

Yes, it's completely unloved by the great unwashed, until (the great unknown) the alternatives start to tank.....reality.

 

[CanOz]

World Gold Council (WGC): Q1 Global gold demand -13% y/y (three-year low)- Central banks acquired more than 100 tons of gold in the first quarter, the seventh consecutive quarter of significant buying from the official sector. However, demand was at its lowest since the second quarter of 2011. - Technology sector gold demand fell 4% on-year to 102 tons in the first quarter. - Q1 global gold supply was little changed at 1,051.6 tons. - Source TradeTheNews.com

How is this possible with all the gold bugs stripping out eBay and the Bullion dealers?

CanOz

 

[explod]

How is this possible with all the gold bugs stripping out eBay and the Bullion dealers?

CanOz

They forget to mention which central banks, it is all China, Russian and some South Africa and South America. Also a lot has changed since the end of the first quarter, (US 31st March). Selective rubbish in my view.

Had to supply a mate overseas with some silver coins for some money he left with me some time back. Did an average price (off ebay) for 2009 one ounce silver eagles at AU$35, so then to compare went in to speak with my dealer who said he could do them for less than that he felt,

"did he have any in stock?" "no" so rang his honcho in town as he "would have plenty", "no he hasn't got any either".

So had to go with my ebay number. Notice a heap of headings on my inbox today, which you could all find if you wanted" on the growing spread between paper and the item. Just my

 

[explod]

In the gold-is-manipulated script, governments and their bullion bank proxies push the price to levels where they know hedge funds and other traders have stop-loss orders, which kick in and send the price careening lower. Then the manipulators buy back their short positions, thus gaining a two-fer: fleecing the flock for a nice profit, and crushing the spirits of stackers and preppers and regular folks who value honest money.

http://www.24hgold.com/english/news-gold-silver-golden-bullseye.aspx?article=4377771092G10020


When will the paper market hit the wall ?

 

[CanOz]

http://www.24hgold.com/english/news-gold-silver-golden-bullseye.aspx?article=4377771092G10020


When will the paper market hit the wall ?

Not in my lifetime.....

 

[ROE]

When gold up are they manipulating up?
If so they manipulate up and down so by investing
In gold you essentially gambling and has no idea
Where and when it go up or down?

Or it is only called manipulation on the way down because
On the way up I am good and I know when to buy gold...

I still don't understand why people invest in something that they believe
being manipulated...whether it true or not I have no idea

But if I believe my industries is run by a bunch crooks and manipulators
I would never invest in them because you lose hanging around crooks...

 

[explod]

Not in my lifetime.....

Cumoorn, just a little hint, have to plan the next move

how old are you.

And you do not have to answer that.

 

[Ann]

I was expecting a better bounce from the POG back up to the $1474 level but as it failed to find support and fell below the very long term and very strong resistance/support line of $1414, I don't believe it will have the strength to fight back above it. Let's see!

 

[CanOz]

Yeah Ann i was a bit surprised that the rally lost steam so quickly. We now have an inside day so an upside break could confirm the short term rally. A break below would see us likely to test the lows again....some nice short covering stop runs this morning all ready....had to stop typing to trade one ...lol

FWIW, i've got the prior HOD at 1399.9...thinking 1400 may be a bit of resistance...lol

CanOz

 

[Ann]

Yeah Ann i was a bit surprised that the rally lost steam so quickly. We now have an inside day so an upside break could confirm the short term rally. A break below would see us likely to test the lows again....some nice short covering stop runs this morning all ready....had to stop typing to trade one ...lol

FWIW, i've got the prior HOD at 1399.9...thinking 1400 may be a bit of resistance...lol

CanOz

CanOz I should have been smarter and realized the POS had a massively high OI recently which was likely to drag the POS down and of course both POG and POS walk hand in hand. This is possibly the reason the POG faltered. Why do you think 1400, I am not seeing anything specifically?

 

[CanOz]

1400 is the line in the sand today for me, on the high side at least....if we did get thru that then a test of 1425 is likely....

1363, 1357 and 1350 are key levels downside for me...

CanOz