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Gold Price - Where is it heading?

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Bintang said:
Just Google, 'Chinese gold demand'. You will find plenty of details.
Click to expand...

Right. That story has been floating around for YEARS.
I might as well google WW3 gold demand or Copper industrial use demand or US corn demand.
 
Gold COT...
 

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Trembling Hand said:
What has changed is those that move real money have gone cold on that idea, at least for now.
Next trade!
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Great point!

Bintang said:
The Chinese.
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Great point!

Very interesting juncture. We now have news that Paulson has exited half his massives stake.



http://blogs.marketwatch.com/thetell/2013/08/14/paulson-soros-dump-gold/

If there is tapering, regardless of how much influence it has on inflation you should expect gold to be slammed.

As far as I can see the QEs have just funded confidence and should be ended.
This should happen now.
However, with the troubles in Egypt and the price of oil spiking again, it's all getting a bit murky again. Maybe they will wait till November.
 
It is time to analyze new development in the gold market.

http://www.businessweek.com/news/20...take-53-percent-as-soros-sells-entire-holding

Gold Bull Paulson Cuts SPDR Stake by Half in Bear Market

http://www.cnbc.com/id/100963985

Paulson & Co more than halves gold ETF stake in Q2

http://en.ammonnews.net/article.aspx?articleno=22762#.UgyRSDmN3IU

India hikes gold duties again to plug trade gap

My ideas are not a recommendation to either buy or sell any security,commodity or currency. Please do your own research prior to making any investment decisions. Please note that I do not endorse or take responsibility for material in the above hyper-linked sites
 
What do you trade?Al
 
Trembling Hand said:
Who would that be?
Click to expand...

Trading was 21 percent above the average in the past 100 days for this time, according to data compiled by Bloomberg. The metal has climbed 15 percent from a 34-month low of $1,179.40 on June 28.


It's becoming obvious who's long in a big way - I've already given you a clue.

"The information in this report is taken from sources believed to be reliable; however, the Commodity Exchange, Inc. disclaims all liability whatsoever with regard to its accuracy or completeness. This report is produced for information purposes only."

They are selling/sold SPDR & ETF - boo hoo & who gives a toss. Perhaps Paulson etc have finally realised that paper gold is dead and as worthless as $USD IOU's?

The heat is on.......the crowded gold short trade & repercussions from interest rate swaps blowing up some big names.......the old geopolitical risk......who needs QE?

and a nice $50 pop!! BTFD!



"The information in this post is taken from sources believed to be reliable; however, I disclaim all liability whatsoever with regard to its accuracy or completeness. This post is produced for information purposes only."
 
Trembling Hand said:
No, utterly useless. Just back fitted rubbish for their audience.
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So from that I take it we are not in a strong period now?

Or the data is rubbish to you just because they have an interest in the game?

And of course that is why everything I say is rubbish too.

Da mit, brought a heap of coins last month at $8.50 each and wanted more next week but now they are $9.90 as of this morning. Shoulda got the hint from me ole Pal and stayed right out of it.
 
Trembling Hand said:
Could you add any details?
Click to expand...

Ask and you shall receive. It's still not too late TH - come over to our team and lose your gold angst....

The latest World Gold Council Gold Demand Trends report, which covers the period April-June 2013, highlights how recent falls in the gold price have generated significant increases in demand, most notably from consumers in China and India - by far the biggest markets for gold - compared with the same time last year.

Globally, jewellery demand was up 37% in Q2 2013 to 576 tonnes (t) from 421t in the same quarter last year, reaching its highest level since Q3 2008. In China, demand was up 54% compared to a year ago; while in India demand increased by 51%. There were also significant increases in demand for gold jewellery in other parts of the world: the Middle East region was up by 33%, and in Turkey demand grew by 38%.

Bar and coin investment grew by 78% globally compared to the same quarter last year, topping 500t in a quarter for the first time. In China, demand for gold bars and coins surged 157% compared with the same quarter last year, while in India it jumped 116% to a record 122t. Taking jewellery demand and bar and coin investment together, global consumer demand totalled 1,083t in the quarter, 53% higher than a year ago.

For the tenth consecutive quarter, central banks were net buyers of gold, purchasing 71t, which reinforces the trend that began in Q1 2011.

http://www.gold.org/media/press_releases/archive/2013/08/gdt_q2_2013_pr/

Marcus Grubb, Managing Director, Investment at the World Gold Council commented: “The second quarter continued the trend that we saw in the first, of a rebalancing in the market, as gold coming onto the market from ETF sales met with a wave of demand for bars and coins, as well as jewellery. This surge in bar and coin investment was a common theme in key markets around the world, and has been particularly prominent in the world’s biggest gold markets, India and China. This shift from West to East has been further reinforced by recent data from the LBMA showing that in June the volume of gold transferred between accounts held by bullion clearers hit a second consecutive 12-year high, buoyed by strong Asian physical demand.
 
explod said:
So from that I take it we are not in a strong period now?
Click to expand...

Oh as you & Unc pointed out a little while ago we have made a bottom and now a higher low 8 days ago.

BUT as you keep telling everyone paper gold isn't the real price. So now are you saying it is only the real price when it rises? : that wouldn't surprise me at all.
 
Well I do hate being the resident fact checker on the gold thread but since the gold experts seem to have so much trouble with confirmation bias seems I will have to get my red marker out again.



Here is the chart with the contract rollover volume stripped out from the expiring. (as we all know rollover is not trading)



Next
 
explod said:
So from that I take it we are not in a strong period now?
Click to expand...

I feel more comfortable now going into a traditionally strong period.

It would be nice to think the bottom for both Gold and Silver is in, but we all know much water needs to travel under the bridge before we can do the happy dance.
 
Bintang said:
Just more utterly useless cryptic crap, which means nothing. Posted for consumption by 'we', whoever 'we' is.
Click to expand...

Cryptic Crap?

If you don't understand what he's saying just ask. If he posted a chart with and without the volume from the contract rollover would it be clearer?
 
Trembling Hand said:
Who would that be?

http://www.bloomberg.com/news/2013-08-14/paulson-cuts-spdr-gold-stake-53-as-soros-sells-out.html
Click to expand...

Uncle Festivus said:
Trading was 21 percent above the average in the past 100 days for this time, according to data compiled by Bloomberg. The metal has climbed 15 percent from a 34-month low of $1,179.40 on June 28.


(From above link)
Click to expand...

Trembling Hand said:
Well I do hate being the resident fact checker on the gold thread but since the gold experts seem to have so much trouble with confirmation bias seems I will have to get my red marker out again.

Next
Click to expand...

Oh dear! If you are going to add a linked story to a post then you should read all of it? My quote was from your link story - so looks like you gave yourself an F

No gold star for you, just a happy face stamp :star:
 
Uncle Festivus said:
Oh dear! If you are going to add a linked story to a post then you should read all of it? My quote was from your link story - so looks like you gave yourself an F

No gold star for you, just a happy face stamp :star:
Click to expand...

I posted the story due to who was selling. You tried to make something of the volume which I knew was nonsense.
 
CanOz said:
Cryptic Crap?
If you don't understand what he's saying just ask.
Click to expand...
I've tried that approach before.

CanOz said:
Cryptic Crap?
If he posted a chart with and without the volume from the contract rollover would it be clearer?
Click to expand...
Maybe, if he also included an explanation of the chart.

Trembling Hand said:
No, utterly useless. Just back fitted rubbish for their audience.
Click to expand...

And perhaps CanOz, for the sake of even-handedness you could advise T/H on how to respond more politely to the charts posted by others which he does not like or understand.
 
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