Gold Price - Where is it heading?

[mullokintyre]

yikes! I won’t be buying GG’s RIH but all of Townsville. Maybe I’ll just start with Magnetic Island.

Yes Indeed, Magnetic island has some attraction.
Mick

 

[farmerge]

It would be nice to buy a good pub where only kindly rapscallions and argumentative punters given to passion and hope such as reside on ASF were shareholders and patrons.

I have awoken at 3.00 am Australian Queensland Fixed time to find my meagre cigar-money stock portfolio in the USA bounding ahead and Gold moving down towards $USD1900.

Gold makes fools of us all. I had hopes for at least it cruising up at $USD1950-1970.

Greed and Fear. Love em both.

gg

GG is it Need overtaking Greed, or Greed overtaking Need????

 

[Sean K]

Yes Indeed, Magnetic island has some attraction.
Mick

I took an American Army Officer there as a short break after visiting an exercise at High Range about 20 years ago and he was blown away. He thought it was absolute paradise and started seriously looking at property to buy. I was like, mate, it’s Magnetic Island….

 

[Garpal Gumnut]

GG is it Need overtaking Greed, or Greed overtaking Need????

As the Buddha said, one must strive for emptiness which is really a mind full of all the right form, thoughts and perceptions, feelings, good mental attitudes and consciousness.

A pub such as I outlined might just assist non Buddhists or the impatient to achieve some inner peace through good conversation and argument.

Although once need comes in to it, the challenge of fear vs greed does is dampened.

As a farmer you would experience it on a daily basis and enjoy it to an extent.

gg

 

[Dona Ferentes]

Now, establishing this could be the OMG thread, I would like to drive the narrative further, by replying here to a recently raised topic (Daily bar becoming both an entry bar and an exit bar) by saying the difference between ingress and egress of said bar is staggering.

Oh, and gold, finding it hard to find an entry point. I see no conviction to hold.

 

[Garpal Gumnut]

Now, establishing this could be the OMG thread, I would like to drive the narrative further, by replying here to a recently raised topic (Daily bar becoming both an entry bar and an exit bar) by saying the difference between ingress and egress of said bar is staggering.

Oh, and gold, finding it hard to find an entry point. I see no conviction to hold.

To be, or not to be that is the question.

This simple line from Hamlet is similar to the present conundrum on Gold and the bar, entry or exit.

Actors from Burbage and Betterton through Branagh and a fine looking young lady who plays with the left foot whom I saw pre-covid doing Prince Hamlet have struggled with the placement, tone and tenor of the word" that".

And, that, is the dilemma with the bar in question.

I however never look at chart bars during panics, but rather hold close my Gold Bar. Gently with my white glove marvelling at it's sheen.

I do enjoy these panics and have a thought experiment to glide me through to the other side.
You look out your window and see a hill at dawn.

If there are no hills in your vicinity get your NDIS or Age Care Package inert person to drive you to a position where you can see a hill.

Imagine you are listening to some morons on 2GB or the ABC or some other low status radio station for the masses. It is announced that Gold has been found on that hill in great quantity. The hill is public property.

Watch through the day ( alone if you are on an NDIS or Aged Care Package, your inert carer has come alive and left you ) as the hill becomes covered by many thousands of citizens from Professors to the indigent, digging.

The radio announces that Bunnings ( WES ) has run out of picks and shovels and extra police have been drafted to quell fights over stakes. Traffic jams occur and flights in to your region are fully booked. A further announcement states that Bunnings will have unlimited picks and shovels delivered by noon.

Relax and light up a Cohiba, sit back, look for a similar hill downstream, get your digging kit out, head there and fear not.

A Bar is a Bar.

All the world's a stage, And all the men and women merely players.

gg

 

[Dona Ferentes]

 

[Sean K]

To be, or not to be that is the question.

This simple line from Hamlet is similar to the present conundrum on Gold and the bar, entry or exit.

Actors from Burbage and Betterton through Branagh and a fine looking young lady who plays with the left foot whom I saw pre-covid doing Prince Hamlet have struggled with the placement, tone and tenor of the word" that".

And, that, is the dilemma with the bar in question.

I however never look at chart bars during panics, but rather hold close my Gold Bar. Gently with my white glove marvelling at it's sheen.

I do enjoy these panics and have a thought experiment to glide me through to the other side.
You look out your window and see a hill at dawn.

If there are no hills in your vicinity get your NDIS or Age Care Package inert person to drive you to a position where you can see a hill.

Imagine you are listening to some morons on 2GB or the ABC or some other low status radio station for the masses. It is announced that Gold has been found on that hill in great quantity. The hill is public property.

Watch through the day ( alone if you are on an NDIS or Aged Care Package, your inert carer has come alive and left you ) as the hill becomes covered by many thousands of citizens from Professors to the indigent, digging.

The radio announces that Bunnings ( WES ) has run out of picks and shovels and extra police have been drafted to quell fights over stakes. Traffic jams occur and flights in to your region are fully booked. A further announcement states that Bunnings will have unlimited picks and shovels delivered by noon.

Relax and light up a Cohiba, sit back, look for a similar hill downstream, get your digging kit out, head there and fear not.

A Bar is a Bar.

All the world's a stage, And all the men and women merely players.

gg

You should write a book GG. Musings from the Ross Island Hotel.

 

[Sean K]

View attachment 152592

I raise your Sydney gold photo one. From my balcony in 2011.

 

[Telamelo]

I'll keep accumulating "any decent dips" on Gold stocks as my thinking is that sooner or later believe that Gold will surpass US$2,000 & perhaps really surge onto much higher level's.

P.S. I don't see Gold price falling back to US$1,650-US$1,750 range though I could be wrong lol

 

[Sean K]

I'll keep accumulating "any decent dips" on Gold stocks as my thinking is that sooner or later believe that Gold will surpass US$2,000 & perhaps really surge onto much higher level's.

P.S. I don't see Gold price falling back to US$1,650-US$1,750 range though I could be wrong lol

This $2000 ish level is quite significant. It could take some time to breach, but when it does, is tested and bounces, who knows what’s next. The basic TA is around $2700, but not sure how long it takes to get there.

 

[Garpal Gumnut]

I'll keep accumulating "any decent dips" on Gold stocks as my thinking is that sooner or later believe that Gold will surpass US$2,000 & perhaps really surge onto much higher level's.

P.S. I don't see Gold price falling back to US$1,650-US$1,750 range though I could be wrong lol

My thinking exactly.

Stand aside. Watch. See a dip at previous support or resistance and buy.

The conditions for a very big surge in Gold price are present, Attacks on the $US, War, Famine, Inflation and a further Epidemic with Covid changing.

I truly believe many younger people have been led by pied pipers in to BTC.

Once Crypto has a few more FTX's the POG will rise quickly due to FOMO.

gg

 

[farmerge]

To be, or not to be that is the question.

This simple line from Hamlet is similar to the present conundrum on Gold and the bar, entry or exit.

Actors from Burbage and Betterton through Branagh and a fine looking young lady who plays with the left foot whom I saw pre-covid doing Prince Hamlet have struggled with the placement, tone and tenor of the word" that".

And, that, is the dilemma with the bar in question.

I however never look at chart bars during panics, but rather hold close my Gold Bar. Gently with my white glove marvelling at it's sheen.

I do enjoy these panics and have a thought experiment to glide me through to the other side.
You look out your window and see a hill at dawn.

If there are no hills in your vicinity get your NDIS or Age Care Package inert person to drive you to a position where you can see a hill.

Imagine you are listening to some morons on 2GB or the ABC or some other low status radio station for the masses. It is announced that Gold has been found on that hill in great quantity. The hill is public property.

Watch through the day ( alone if you are on an NDIS or Aged Care Package, your inert carer has come alive and left you ) as the hill becomes covered by many thousands of citizens from Professors to the indigent, digging.

The radio announces that Bunnings ( WES ) has run out of picks and shovels and extra police have been drafted to quell fights over stakes. Traffic jams occur and flights in to your region are fully booked. A further announcement states that Bunnings will have unlimited picks and shovels delivered by noon.

Relax and light up a Cohiba, sit back, look for a similar hill downstream, get your digging kit out, head there and fear not.

A Bar is a Bar.

All the world's a stage, And all the men and women merely players.

gg

Hmm GG I'll just settle for that extremely wise sage "the bloke in the mirror". No need to worry if the NDIS package is going to get me to the golden goose.!!!!!!

 

[ducati916]

So:



Meanwhile in the US



These deficits will be financed how? Only a couple of options (a) the Fed monetises or (b) foreign purchases of increased debt issuance.

Debt service is in excess of tax revenue.

jog on
duc

 

[Telamelo]

Gold price edging higher ever so slowly @ US$1,897 / AUD $2,700 - can Gold get above US$1,900 tonight?

 

[Garpal Gumnut]

Just so's y'all know that I'm not as bullish on Gold as I was, and have considerably lightened my exposure.

As has the Russian Central Bank.

There is no connection between the two transactions.

gg

 

[Sean K]

Just so's y'all know that I'm not as bullish on Gold as I was, and have considerably lightened my exposure.

As has the Russian Central Bank.

There is no connection between the two transactions.

gg

Is that just to fund the war effort?

And Russia is just taking profits?

 

[Garpal Gumnut]

Is that just to fund the war effort?

And Russia is just taking profits?

Definitely @Sean K .

Profits which the Orcs need.

Their bottom line is in dire straits and they managed to sell in mid January at a reasonable price when it looked as if we were heading towards $USD2000.

I took a very large holding in PMGOLD as insurance against my SMSF assets in case of a proper war and loss in my equity account.

It's very difficult holding gold from Australia as the USD/AUD mirrors the Gold price. For example my "insurance policy" was in the red in $USD but not as badly in $AUD for much of the latter half of 2022.

I took the opportunity today when the Hong Kong cousins ( what are left of them who haven't fled to Singapore ) must have gotten a fresh batch of the white powder which pushed the price up a tad and the American cousins were asleep and the AUD/USD drifted lower, to get a good limit order filled.

Overall I made a profit of 2% on my insurance policy with which I am pleased and will probably sit back and stop ordering French cravats with which to wipe my forehead in the very insane, dangerous environment that is the Gold market while here in Australia one is looking at 2 markets AUD/USD and POG $USD simultaneously. It was a large amount so the 102% goes back in as Cash in to my SMSF for the coming dangerous time in equities.

I'll still trade Gold with my CMA ( Cigar Money Account ) in $USD and be comfortable with that.

I just have a feeling we are not for $USD2000 yet, but it is attainable this year.

If I'm wrong and it goes to $USD2000 over the next 2 weeks I'll still be comfortable with my decision. Live for the present and damn the consequences.

gg

 

[Dona Ferentes]

To be, or not to be that is the question

To be in the portfolio, or not, as insurance or gain, as a dollar hedge or not; these are some of many questions

A Bar is a Bar.

The only bar I know is the local one, 10 minutes to walk there, and 45 minutes home. The difference IS staggering

 

[farmerge]

Ah the staggering from a past era. As long as there was a power pole or fence to steady on all was good.