Gold Price - Where is it heading?

[explod]

Well, whats in a few days, BHP's profits down with a loss this last year of 8 billion and oil and gas holdings written down by 10 billion.

Gold holding its place and where to now, with a drop of 100%in ion ore prices over the last year or so and coal growingly on the nose then its a vacuum forming here.

And this has been translating into a lot if young fellows out of a job and returning home. The volume of those living rough in their cars and on the street has been growing by the day. Has not really hit main street media yet but it is on the way.

Banks getting streetched, milking cows off to slaughter. And just announced, Alan Kohler on ABC says another rate cut coming, so no money in money.

Gold for me and on the up today. My dear little MOY up 24% today so hada coupla whiskeys. Except that as things are going there is absolutely nothing to laugh about. My two Son's in business are feeling it.

 

[CanOz]

Well, whats in a few days, BHP's profits down with a loss this last year of 8 billion and oil and gas holdings written down by 10 billion.

Gold holding its place and where to now, with a drop of 100%in ion ore prices over the last year or so and coal growingly on the nose then its a vacuum forming here.

And this has been translating into a lot if young fellows out of a job and returning home. The volume of those living rough in their cars and on the street has been growing by the day. Has not really hit main street media yet but it is on the way.

Banks getting streetched, milking cows off to slaughter. And just announced, Alan Kohler on ABC says another rate cut coming, so no money in money.

Gold for me and on the up today. My dear little MOY up 24% today so hada coupla whiskeys. Except that as things are going there is absolutely nothing to laugh about. My two Son's in business are feeling it.

Quick, run for the hills!

I wouldn't be surprised if BHP rallies...

 

[explod]

Quick, run for the hills!

I wouldn't be surprised if BHP rallies...

Maybe, but I prefer to know or understand why.

 

[Value Collector]

Well, whats in a few days, BHP's profits down with a loss this last year of 8 billion and oil and gas holdings written down by 10 billion.

.

BHP generally earns a profit and pays a dividend, gold never has earnings and never pays a dividend.

the asx 200 companies will generate earnings and pay dividends each, the earning will fluctuate, but compared to gold that never pays a dividend, the bumpy earnings figures of leading companies is great.

 

[Kryzz]

Hasn't been the greatest month for Gold, at a pretty key level atm, hopefully it picks up.

 

[kid hustlr]

Yes,

Interested in peoples thoughts here.

GDX and NCM and miners in general have been creamed in the past month - is this a chance to dip the toe into some companies who are leveraged to the POG?

 

[notting]

Gold looking a tad overdone me thinking

NCM 26.05
NST 5.64
EVN 2.90
SBM 3.605
RRL 3.84

Time to get shorty
https://www.aussiestockforums.com/forums/showthread.php?t=2366&p=912743&viewfull=1#post912743

And counting...
(It's going to get worse)

 

[peter2]

Noted your contrarian call on gold but thought it a little prem. However there was a lower high in most of those charts in early Aug that I didn't notice at the time. It just highlights that I'm a natural bull while you're just a natural contrarian.

Where at the EOM and it'll be interesting to see what's happened to explod's gold portfolio in the 2016 tipping comp.

 

[kid hustlr]

Any Elliot Wave guys out there looking at this?

Thinking i might buy a little XGD and a little NCM for the bottom drawer

 

[gartley]

Any Elliot Wave guys out there looking at this?

Thinking i might buy a little XGD and a little NCM for the bottom drawer

EW is not my strength, but my own cycles methodology saw this coming weeks ago)) the same way it did the current All Ords correction

https://www.aussiestockforums.com/f...17461&page=117&p=915905&viewfull=1#post915905

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[gartley]

Just an addition to the previous post. Those charts are for NCM which probably is the largest weighting of the XGD Index.

The weekly and monthly cycles for Physical Gold point to higher prices after this correction completes well over 1400. So for now it's either a matter of riding out this correction in the Gold miners (as painful as it is for those who own them), or having exited longs and waiting for the next buy signal)). I suspect current decline has a seasonal component to it and hopefully will be over by November and a fresh buy spike and cycle bottom signals emerge

 

[kid hustlr]

Cool gartley.

Just make sense to have a small portion in my portfolio in my view and GDX and NCM appear the best way to do it

 

[gartley]

Cool gartley.

Just make sense to have a small portion in my portfolio in my view and GDX and NCM appear the best way to do it

Makes sense, I bought GDX, NCM, NST, OGC, AQG, TRY, GRY and ETPMAG last December, but have since liquidated because I don't like to hold them while they are falling, that's just me. Seasonally I have found the best time to buy them has been between December and January the last 2 or 3 years.

 

[Kryzz]

Hasn't been the greatest month for Gold, at a pretty key level atm, hopefully it picks up.

Looks like that support zone is holding for now following the NFP announcement, fingers crossed for some follow through!

 

[notting]

flipping out of gold shorts given they ran down on a hike expectation, which is now dubious yet largely priced in.

 

[notting]

Machines all keeping up.

Got my attention

1 minute gold chart and NCM (simply because it's the biggest and looked at by internationals and fundies)

 

[explod]

flipping out of gold shorts given they ran down on a hike expectation, which is now dubious yet largely priced in.

The paper gold price will not be allowed to rise as investors leave the markets, and as Wall Street falls so will gold in my sceptical view.

The financial banking systems are in control and the last thing they will allow is any alternative to holdings outside of thier paper system.

I expect a shake out to below $1,300 in the next week or so before the next move north. Its about painting sentiment and nothing to do with productive value IMHO.

 

[notting]

Well I'v been short for a while now and was expecting a hike next week.
However, when the last fed chick came out and basically said we're prepping you but we don't think it will be this month.
That was enough for me to back off.
If they do hike, and they should, gold will sell off.

 

[explod]

Agree but do not believe they can raise rates. The system is loaded with just too much debt and any rise will see defaults and a systemic implosion. However with ever decreasing yields gold will continue the rise established early this year but it will be volatile which shakes off weak hands and keeps doubt in play.

 

[qldfrog]

Agree but do not believe they can raise rates. The system is loaded with just too much debt and any rise will see defaults and a systemic implosion. However with ever decreasing yields gold will continue the rise established early this year but it will be volatile which shakes off weak hands and keeps doubt in play.

At least a point we will agree on today explod;
I see no risk in loading on gold in the medium term, up and down along the way but trend is up