Gold Price - Where is it heading?

[chops_a_must]

Well and truly breaking down now.

 

[Garpal Gumnut]

Well and truly breaking down now.

Dear chops,

Can you bring me up to speed with Gold. I bought x3 bars 5oz I believe and hav e had them under the mattress ( various) since 1980. I believe I bought in at the top at the time. How much are they worth and where should I go. Perth Mint is where I bought them from. When I bought them I thought they would protect me against the Indonesians and other imaginary threats. From memory I paid $560 dpo for them.

Garpal

 

[chops_a_must]

Dear chops,

Can you bring me up to speed with Gold. I bought x3 bars 5oz I believe and hav e had them under the mattress ( various) since 1980. I believe I bought in at the top at the time. How much are they worth and where should I go. Perth Mint is where I bought them from. When I bought them I thought they would protect me against the Indonesians and other imaginary threats. From memory I paid $560 dpo for them.

Garpal

I did a similar thing. And then I misplaced the gold outside the channel 7 studios sometime. I never did find out what happened to that gold...

Perth Mint is still probably the best place to go... or at least contact, as they do most of the gold dealing in Australia. Don't know much about it though...

This might help:
http://www.perthmint.com.au/gc/depository/depository_layout.asp?url=3

Might just be best to contact someone there though.

Cheers.

 

[Dr Doom]

I did a similar thing. And then I misplaced the gold outside the channel 7 studios sometime. I never did find out what happened to that gold...

Perth Mint is still probably the best place to go... or at least contact, as they do most of the gold dealing in Australia. Don't know much about it though...

This might help:
http://www.perthmint.com.au/gc/depository/depository_layout.asp?url=3

Might just be best to contact someone there though.

Cheers.

Chops
Missplaced?? Which channel 7?. Load up my trusty metal detector and get a prospecting permit from Mr Stokes?. Or is that where he made his millions, and you have to resort to hanging out in here with the riff raff

GG, You could also try
http://www.ausbullion.com.au/bullion.html

 

[Kauri]

I did a similar thing. And then I misplaced the gold outside the channel 7 studios sometime. I never did find out what happened to that gold...


Cheers.

Watch out chops, I hear Hamburger Bob hangs out around here... :bloated:

 

[chops_a_must]

Chops
Missplaced?? Which channel 7?. Load up my trusty metal detector and get a prospecting permit from Mr Stokes?. Or is that where he made his millions, and you have to resort to hanging out in here with the riff raff

Geez... I'm surprised no-one got my reference to the Mint Swindle here. Lol! Disappointing.

 

[Freeballinginawetsuit]

Ray and Pete dont live too far from me, Im on west coast highway and their just down the road at the marmion lights on Karrinyup Rd, Trigg.

Nice crew who make beautiful raw edge jarrah table tops now .

Even if they did rip off the gold , they got pulled over the wringer by big brother......big time!.

 

[Kauri]

Geez... I'm surprised no-one got my reference to the Mint Swindle here. Lol! Disappointing.

Geez... I'm surprised no-one got my reference to Hamburger Bob here. Lol! Disappointing.

 

[Freeballinginawetsuit]

Geez... I'm surprised no-one got my reference to Hamburger Bob here. Lol! Disappointing.

Hamburger Bob hung out at the Orabanda ( ) until he got shot by a silver haired dude who ate an orange.....avoiding the fuzz .......but his orange couldnt avoid a bomb<....all as logical as the CIB brief that pinged the Brothers.

Ahhhhhh....now thats Karma , Id rather be missing a finger than be blown up

 

[Sean K]

I like that $660 was tested over the past 2 days and the POG bounced off. Looks positive. Doesn't look to be much resistance until $720.
Wavers, Could this be considered to be a wave 3 upleg?

 

[annalivia]

There have been increasing reports over the past few months that central banks from the United Arab Emirates to Switzerland have shifted reserves away from the US dollar into Euros. If the Euro really was emerging as the currency of choice, would we not expect to see Euro strength relative to gold too?
However, this is certainly not the case. Similar to the US dollar gold chart on the EURO gold chart, the yellow metal recently broke upwards from a triangular trading range, which is bullish. While the euro has strengthened against most other fiat (paper) currencies, this has certainly not been the case with gold - the world's ultimate 'hard' currency.
This tells us that gold's strength is not just a US dollar story. In recent years, the trend has been for countries to achieve competitiveness by weakening their currency rather than engineer long lasting structural change. Subtle ongoing currency depreciation has resulted. This has led to upward momentum in the gold price and I believe this will only accelerate in the year ahead. My tip is for gold to hit the $1000 US mark some time this year.

annalivia

 

[greggy]

I like that $660 was tested over the past 2 days and the POG bounced off. Looks positive. Doesn't look to be much resistance until $720.
Wavers, Could this be considered to be a wave 3 upleg?

Hi Kennas,

Hope so. The knockers (so called "analysts") are still out there trying to push the price down, but I still feel that gold will continue to have a strong year. I would like to see hit $1,000 this year at least in $A. That would give the gold sector a nice push forward.
DYOR

 

[BREND]

I had heard from my client who is a fund manager at China, said China government has already bought gold secretly for a while already.

I had bought gold ETF when gold was trading at USD590. I also believe that gold will hit USD1000, it is only a matter of time.

 

[GreatPig]

John Mauldin's latest article discusses gold.

You may need to register to read it, but I think it's worth subscribing to his articles anyway.

GP

 

[redandgreen]

very interesting insights into where gold is headed
thx

 

[chops_a_must]

There have been increasing reports over the past few months that central banks from the United Arab Emirates to Switzerland have shifted reserves away from the US dollar into Euros. If the Euro really was emerging as the currency of choice, would we not expect to see Euro strength relative to gold too?
However, this is certainly not the case. Similar to the US dollar gold chart on the EURO gold chart, the yellow metal recently broke upwards from a triangular trading range, which is bullish. While the euro has strengthened against most other fiat (paper) currencies, this has certainly not been the case with gold - the world's ultimate 'hard' currency.
This tells us that gold's strength is not just a US dollar story. In recent years, the trend has been for countries to achieve competitiveness by weakening their currency rather than engineer long lasting structural change. Subtle ongoing currency depreciation has resulted. This has led to upward momentum in the gold price and I believe this will only accelerate in the year ahead. My tip is for gold to hit the $1000 US mark some time this year.

I had heard from my client who is a fund manager at China, said China government has already bought gold secretly for a while already.

I had bought gold ETF when gold was trading at USD590. I also believe that gold will hit USD1000, it is only a matter of time.

We often hear about gold being priced according to the risk of inflation especially in the US. Yet, the US economy is having less and less impact on the world economy, and the difference is being replaced by Asia, especially China. But if the Yuan is not being allowed to move freely and there is massive concerns for inflation in China, why would there not be a huge upward pressure on the gold price?

 

[albi000]

For a technical analysis of gold, check out the post from Alpha Trends, Wallstrip and Kevins Market blog who are all bullish on gold.

 

[CanOz]

Anybody want to comment on what happened to the gold price last night or the recent decline in general, seems a bit steep for a typical retracement?

 

[Dr Doom]

Anybody want to comment on what happened to the gold price last night or the recent decline in general, seems a bit steep for a typical retracement?

A number of factors-

Oil was sold off after Iran indicated a softer stance about nuclear ambitions
US dollar was up
Some Fed governor provided re-assurance about the economy blah blah...

The "sell off" was about average, within the recent range of about $12-$13 for major corrections and $6 for minor. Only thing to watch out for now short term is a general market correction which could drag gold down with it, but gold is also entering the 'traditional' bull months up to May so this pullback is healthy for re-entry to some stocks like LHG. I think the first signs of the Dow starting to correct meaningfully could signal a big shift into gold by spec funds, which would see the resumption of the second wave in this secular gold bull.

 

[CanOz]

A number of factors-

Oil was sold off after Iran indicated a softer stance about nuclear ambitions
US dollar was up
Some Fed governor provided re-assurance about the economy blah blah...

The "sell off" was about average, within the recent range of about $12-$13 for major corrections and $6 for minor. Only thing to watch out for now short term is a general market correction which could drag gold down with it, but gold is also entering the 'traditional' bull months up to May so this pullback is healthy for re-entry to some stocks like LHG. I think the first signs of the Dow starting to correct meaningfully could signal a big shift into gold by spec funds, which would see the resumption of the second wave in this secular gold bull.

Cool, thanks DOOM...been watching EQI for an entry point and the POG isn't setting things up very well today.

Cheers,