Gold Price - Where is it heading?

[wayneL]

Re: GOLD Where is it heading?

Oi Vay! We been up to 531.8 on the feb contract....SO FAR!

Equities gap closed...Now it gets interesting, we in for an interesting ride this year IMO.

Cheers

 

[wayneL]

Re: GOLD Where is it heading?

Oi Vay! We been up to 531.8 on the feb contract....SO FAR!

Equities gap closed...Now it gets interesting, we in for an interesting ride this year IMO.

Cheers

zgg06 high 535.90

check out equities also...a very wide ranging day due to FOMC minutes http://www.marketwatch.com/news/sto...AAB-49B3-A6F5-1F3F58802CB3}&siteid=mktw&dist=

interesting times lie ahead with a range of predictions from 30% up to 30% down.

Just make sure yer backside is covered folks.

 

[RichKid]

Re: GOLD Where is it heading?

gold feb06, open interest is picking up. Retesting those recent highs.

 

[michael_selway]

Re: GOLD Where is it heading?

Richkid

just wondering if u can post a price chart of Gold from 1980 till now?

Thanks

MS

 

[RichKid]

Re: GOLD Where is it heading?

Richkid

just wondering if u can post a price chart of Gold from 1980 till now?

Thanks

MS

Here it is Michael (from 1975 in fact). From www.Kitco.com.

I suggest you get used to looking up and posting charts yourself as it will be beneficial for your general trading education- I'm happy to help provided you spend some time browsing those sites yourself. It's very easy once you put a bit of effort in to it (finding and posting charts that is) but it can be time consuming to do too often. Hope you're finding these commodity threads informative- but remember it's all speculation rather than advice so be careful.

(Gold retracing atm from highs, but only by a few dollars so far...)

 

[phoenixrising]

Re: GOLD Where is it heading?

$540, up $15 in 24 hrs.

Broken thru $538 Dec hi.

Even my yo-yo as a kid couldn't swing like this

Sheesh!!!

 

[RichKid]

Re: GOLD Where is it heading?

$540, up $15 in 24 hrs.

Broken thru $538 Dec hi.

Even my yo-yo as a kid couldn't swing like this

Sheesh!!!

''Sheesh!!!" You can say that again!! I can't believe it, this is either the start of another strong run or I'd say it's a short term top...we'll know next week. It's the steepness of this climb up that makes me think it'll retrace.

 

[kerosam]

Re: GOLD Where is it heading?

what if gold price hits too high? does it affect the economy like rising interest rates? will it cause an inflation?

 

[clowboy]

Re: GOLD Where is it heading?

Just done a quick search for why gold skyrocketed in 79 and the best I could come up with was that physical demand skyrocketed. *shrug* tired and cant really be bothered researching it that much.

Anyone have any knowledge on what the deal with gold was? I would have thought gold was more likely to peak in 87.

Anyway dont really know what gold might do but the chart looks an awfull lot like 77-79.

In terms of such a fast advance, yep sure is but look at that spike in 79-80, would put the price of gold at well over $1000 per ounce, wouldnt that be nice.

 

[nizar]

Re: GOLD Where is it heading?

I dont think rising gold prices has an impact like rising interest rates.

People buy gold as a hedge against inflation
ie. if interest rates go up, equities go down and gold is seen as a "safe haven"

Also, with regard to theAnalysts comments the other day, about there being "a lot less riskier investments (than gold) returning 20-50%"... Im keen to find out what these may be...

 

[Smurf1976]

Re: GOLD Where is it heading?

I recall reading somewhere (Gold Eagle?) that the major players effectively "capped" any rise on the price of gold to US$6 per trading session. This was simply the observation of the analyst looking back through the charts. I didn't verify if it was true or not. But if it was then it would seem that this no longer occurs which is a significant development IMO.

 

[Smurf1976]

Re: GOLD Where is it heading?

Just done a quick search for why gold skyrocketed in 79 and the best I could come up with was that physical demand skyrocketed. *shrug* tired and cant really be bothered researching it that much.

Anyone have any knowledge on what the deal with gold was? I would have thought gold was more likely to peak in 87.

Anyway dont really know what gold might do but the chart looks an awfull lot like 77-79.

Was just a normal blow off at the end of a bull market IMO. Speculation and everyone got excited and the masses started buying. Like the dot.com shares in 2000 or real estate in 2003/4. Lots of hype and the public rushes in as the smart money gets out.

What happens after the top is a little harder to predict. Either it does a Nasdaq and collapses almost literally overnight or it enters a slow grinding bear market lasting years as gold did following 1979 and the Japanese share market following their bust.

I have an interesting graph of house prices versus gold prices if anyone can tell me how to post it. Basically shows that, relative to gold, houses are at historically high valuations with the rising trend having broken. So gold is now performing better than houses.

 

[chicken]

Re: GOLD Where is it heading?

Was just a normal blow off at the end of a bull market IMO. Speculation and everyone got excited and the masses started buying. Like the dot.com shares in 2000 or real estate in 2003/4. Lots of hype and the public rushes in as the smart money gets out.

What happens after the top is a little harder to predict. Either it does a Nasdaq and collapses almost literally overnight or it enters a slow grinding bear market lasting years as gold did following 1979 and the Japanese share market following their bust.

I have an interesting graph of house prices versus gold prices if anyone can tell me how to post it. Basically shows that, relative to gold, houses are at historically high valuations with the rising trend having broken. So gold is now performing better than houses.

Just to say where the Gold price is heading...just read an article written by Mr fABER...A SWISS OR GERMAN WHO LIVES IN Hong Kong....and he forcasts a Gold price of $3500.... in the next 4 years...so it will be it will be down but we know its still a long position...the Asian community takes a lot of note of Mr Faber as that Billionaire has over $9 billion US under management...so who can argue the point there....and I do agree with Mr Faber ...the Chinese and Indians are all buying GOLD whatever the price is....as this is the only safe hedge against inflation.....US $$$ are just paper..and they keep printing them...also the forecast for the dow in 2006 is to 13500 that is where the brokers are picking the dow will go to....so it looks for another great year to come

 

[TheAnalyst]

Re: GOLD Where is it heading?

Just to say where the Gold price is heading...just read an article written by Mr fABER...A SWISS OR GERMAN WHO LIVES IN Hong Kong....and he forcasts a Gold price of $3500.... in the next 4 years...so it will be it will be down but we know its still a long position...the Asian community takes a lot of note of Mr Faber as that Billionaire has over $9 billion US under management...so who can argue the point there....and I do agree with Mr Faber ...the Chinese and Indians are all buying GOLD whatever the price is....as this is the only safe hedge against inflation.....US $$$ are just paper..and they keep printing them...also the forecast for the dow in 2006 is to 13500 that is where the brokers are picking the dow will go to....so it looks for another great year to come

I am bullish but that prediction is just a bit to heavy for me!!!!

 

[clowboy]

Re: GOLD Where is it heading?

CHICKEN,

What is his basis for $3500 per ounce?

I have read many articles that have predicted gold to go to all time highs with many over $5000 USD/OZ and one as high as $25000 USD/OZ but they rely on the collapse of the USD. I have in fact a short for a documentry made on gold (that one a film festival) showing a compelling case for gold (I would post it but im sure it is above the limit).

At the end of the day I guess it doesnt really matter how high it goes just weather it continues it's climb or not.

Would be interested to know what level of exposure people have to gold ATM (in terms of asset alocation). The "experts" are saying the usual crap......5-10% should be held in gold and at this time we recomend a weighting in the higher region...blah blah.

Myself (excluding my property - which I live in and therefore dont class as an investment) am at around 10% wieghting and would happily increase that to 15-20%.

 

[michael_selway]

Re: GOLD Where is it heading?

Just to say where the Gold price is heading...just read an article written by Mr fABER...A SWISS OR GERMAN WHO LIVES IN Hong Kong....and he forcasts a Gold price of $3500.... in the next 4 years...so it will be it will be down but we know its still a long position...the Asian community takes a lot of note of Mr Faber as that Billionaire has over $9 billion US under management...so who can argue the point there....and I do agree with Mr Faber ...the Chinese and Indians are all buying GOLD whatever the price is....as this is the only safe hedge against inflation.....US $$$ are just paper..and they keep printing them...also the forecast for the dow in 2006 is to 13500 that is where the brokers are picking the dow will go to....so it looks for another great year to come

3500 is a bit far fetched dont u think? if people area worried about inflation, wont they just raise interest rates to combat the problem? why inflate gold instead? doesnt really solve the problem?

Also Silver, is that going to do well in line with gold according to Faber?

Thanks

MS

 

[chicken]

Re: GOLD Where is it heading?

3500 is a bit far fetched dont u think? if people area worried about inflation, wont they just raise interest rate sto combat the problem? why inflate gold instead? doesnt really solve the problem?

also Silver, is that going to do well in line with gold acoording to Faber?

Thanks

MS

In fact if you have never heared of Mr Faber..well he has a website..Doom and Gloom he is one of Hong Kongs most respectful investment adviser....check it out yourself....after all the Asian investment community respects the man...find his website or ask a broker..I have not got it on hand as I am travelling at the moment but when I am back in Australia I have his website on my computer...I shall see if I can find it..

 

[nizar]

Re: GOLD Where is it heading?

This may be the web site ur looking for:

http://www.gloomboomdoom.com/

 

[chicken]

Re: GOLD Where is it heading?

This may be the web site ur looking for:

http://www.gloomboomdoom.com/

You got it right thats the one..looked under www.doomgloom.com but not the one the one you posted is the right one thanks nizar

 

[kerosam]

Re: GOLD Where is it heading?

i live in asia for a good 20 years and am quite familiar with the Chinese and Indian culture. I agree with what Chicken has said earlier. gold no matter how expensive it is, the Chinese and Indians will always buy them especially for weddings, dowring, birthdays or any family orientated festivals (not all but most festivals). It is their tradition (and some religions), a tradition that has thousand years of history. Jewellery stores in Asia are always stocked up with gold rings, braclets, earrings etc. Have a walk to a Chinatown or Little India in Singapore, you'll know what I mean. Furthermore, with the chinese and indians earning more money than ever, i reckon the demand for gold will increase.

nevertheless am i safe to say gold producing and exploring companies will take the spot light in the coming months?