Australian (ASX) Stock Market Forum

Gold Price - Where is it heading?

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TimeISmoney said:
The gold in Fort Knox has been recently audited.

Click to expand...


It's difficult to believe an internal audit by biased people with no transparency is genuine. It might be, it might not be, but it makes no sense to trust it's there because the people who are going to say it's there whether or not it is, say it's there.

This guy reeks of slimyness. His premise of 'anyone who doubts this is just doubting the honestly and integrity of what the government says' is laughable, and anyone who uses such a premise should be viewed with extreme scepticism.

There was some interesting discussion about investor demand not being true demand, but the reality is somewhere in between what he was saying and what those he attacks say. Yes, people buying it to store it under the mattress or in a warehouse are storing it as above ground metal which can immediately be sold for any purpose, but if demand for silver bars in warehouses and under mattresses is increasing, it's still an actual increase in demand which production (digging it out of the ground and making metal bars) does need to supply. You could make a similar argument that industrial demand is not true demand because some of it is recycled and that silver is put back into the system.

The 'demand is going to surge because regular people can't afford an ounce of gold but they can afford 1-3 ounces of silver' is just silly. If you can't afford an ounce of gold you're probably not going to bother investing in anything, and you're absolutely not going to invest much into anything, because we've already established that you can't even afford to buy an ounce of gold, and even if you do buy your ounce of silver for $33.41 plus commission and rock the market by surging its demand with your impressive purchase, you're probably the sort of person who is going to sell it next week when the car needs fuel or you're out of smokes. You can only take this narrative seriously if you either actively avoid applying any form of analysis or common sense, or you're mentally deficient.

Do you really think the type of people who can't afford an ounce of gold are going to influence the market? And if you're still thinking that nonsense might make some amount of sense, here's a mind blower for you: the same guy trying to convince you of it literally told you a few minutes earlier that investor demand like that from people who want to buy bars or coins of metal, don't count as demand even if it's in large quantity! So by his own logic, those investors who will guide the market are a tiny little amount of something which as a whole amounts to zero.

I may be stupid in some ways but I'm enough of a nerd to analyse this enough to see that it's complete garbage, either because the guy is stupid or dishonest. Given his 'you can trust the government, anyone who questions the integrity of the government is bad' stance, I'm going with the latter.
 
Sdajii said:
It's difficult to believe an internal audit by biased people with no transparency is genuine. It might be, it might not be, but it makes no sense to trust it's there because the people who are going to say it's there whether or not it is, say it's there.

This guy reeks of slimyness. His premise of 'anyone who doubts this is just doubting the honestly and integrity of what the government says' is laughable, and anyone who uses such a premise should be viewed with extreme scepticism.

There was some interesting discussion about investor demand not being true demand, but the reality is somewhere in between what he was saying and what those he attacks say. Yes, people buying it to store it under the mattress or in a warehouse are storing it as above ground metal which can immediately be sold for any purpose, but if demand for silver bars in warehouses and under mattresses is increasing, it's still an actual increase in demand which production (digging it out of the ground and making metal bars) does need to supply. You could make a similar argument that industrial demand is not true demand because some of it is recycled and that silver is put back into the system.

The 'demand is going to surge because regular people can't afford an ounce of gold but they can afford 1-3 ounces of silver' is just silly. If you can't afford an ounce of gold you're probably not going to bother investing in anything, and you're absolutely not going to invest much into anything, because we've already established that you can't even afford to buy an ounce of gold, and even if you do buy your ounce of silver for $33.41 plus commission and rock the market by surging its demand with your impressive purchase, you're probably the sort of person who is going to sell it next week when the car needs fuel or you're out of smokes. You can only take this narrative seriously if you either actively avoid applying any form of analysis or common sense, or you're mentally deficient.

Do you really think the type of people who can't afford an ounce of gold are going to influence the market? And if you're still thinking that nonsense might make some amount of sense, here's a mind blower for you: the same guy trying to convince you of it literally told you a few minutes earlier that investor demand like that from people who want to buy bars or coins of metal, don't count as demand even if it's in large quantity! So by his own logic, those investors who will guide the market are a tiny little amount of something which as a whole amounts to zero.

I may be stupid in some ways but I'm enough of a nerd to analyse this enough to see that it's complete garbage, either because the guy is stupid or dishonest. Given his 'you can trust the government, anyone who questions the integrity of the government is bad' stance, I'm going with the latter.
Click to expand...
sooo another theory about a conspiracy now very likely correct

trust your Government ?

after 2020, 2021 and 2022 , ?

not since 9/11/2001 😉😉

BTW i could see the JFK narrative was rubbish within three days of the assassination ( and i was still in primary school then watching the news in grainy black and white TV )

the first rifle brought down by the police was NOT a Carcano , so how many rifles were in the building ? ( at least two )
 
I was on reddit.com now in the Gold area, and noticed this post which I thought I should share. So many honest people unlike the denizens of ASF may be drawn to buying gold, often from quite skilled rogues.

All that glitters is not gold, nor all gold coins all gold.


1742540087940.png

gg
 
Sdajii said:
It's difficult to believe an internal audit by biased people with no transparency is genuine. It might be, it might not be, but it makes no sense to trust it's there because the people who are going to say it's there whether or not it is, say it's there.

This guy reeks of slimyness. His premise of 'anyone who doubts this is just doubting the honestly and integrity of what the government says' is laughable, and anyone who uses such a premise should be viewed with extreme scepticism.

There was some interesting discussion about investor demand not being true demand, but the reality is somewhere in between what he was saying and what those he attacks say. Yes, people buying it to store it under the mattress or in a warehouse are storing it as above ground metal which can immediately be sold for any purpose, but if demand for silver bars in warehouses and under mattresses is increasing, it's still an actual increase in demand which production (digging it out of the ground and making metal bars) does need to supply. You could make a similar argument that industrial demand is not true demand because some of it is recycled and that silver is put back into the system.

The 'demand is going to surge because regular people can't afford an ounce of gold but they can afford 1-3 ounces of silver' is just silly. If you can't afford an ounce of gold you're probably not going to bother investing in anything, and you're absolutely not going to invest much into anything, because we've already established that you can't even afford to buy an ounce of gold, and even if you do buy your ounce of silver for $33.41 plus commission and rock the market by surging its demand with your impressive purchase, you're probably the sort of person who is going to sell it next week when the car needs fuel or you're out of smokes. You can only take this narrative seriously if you either actively avoid applying any form of analysis or common sense, or you're mentally deficient.

Do you really think the type of people who can't afford an ounce of gold are going to influence the market? And if you're still thinking that nonsense might make some amount of sense, here's a mind blower for you: the same guy trying to convince you of it literally told you a few minutes earlier that investor demand like that from people who want to buy bars or coins of metal, don't count as demand even if it's in large quantity! So by his own logic, those investors who will guide the market are a tiny little amount of something which as a whole amounts to zero.

I may be stupid in some ways but I'm enough of a nerd to analyse this enough to see that it's complete garbage, either because the guy is stupid or dishonest. Given his 'you can trust the government, anyone who questions the integrity of the government is bad' stance, I'm going with the latter.
Click to expand...
I've been led to believe that when physical gold starts to dry up people generally continue to buy into silver and then the silver prices start to climb higher. Silver is less targeted by governments and the rich, same as bronze. I know quite a few people who have been quietly buying up bronze for years but many poor nations still buy into gold rather than having money in banks, because they don't trust the banking system in their country.

I think the people you can't trust are Trump and Musk, it is beyond my imagination that people think someone like Trump is trustworthy, has 34 felony charges, chapter 11 bankruptcies 6 times to avoid paying accounts and is known to hang with paedophiles.

What the guy was saying about the storage of the gold would be correct, they're not going to make it so easy that someone can walk in, take a bar of gold under their arm and walk out. The idea of keeping people guessing is just another one of Trump's red herrings, just like he's done with the on and off again tariffs to disrupt the markets.
 
TimeISmoney said:
I've been led to believe that when physical gold starts to dry up people generally continue to buy into silver and then the silver prices start to climb higher. Silver is less targeted by governments and the rich, same as bronze. I know quite a few people who have been quietly buying up bronze for years but many poor nations still buy into gold rather than having money in banks, because they don't trust the banking system in their country.

I think the people you can't trust are Trump and Musk, it is beyond my imagination that people think someone like Trump is trustworthy, has 34 felony charges, chapter 11 bankruptcies 6 times to avoid paying accounts and is known to hang with paedophiles.

What the guy was saying about the storage of the gold would be correct, they're not going to make it so easy that someone can walk in, take a bar of gold under their arm and walk out. The idea of keeping people guessing is just another one of Trump's red herrings, just like he's done with the on and off again tariffs to disrupt the markets.
Click to expand...

Your TDS is heavily on display here. The 'felony charges' are all completely trivial nonsense which his political opponents would not have to worry about and all of whom are clearly guilty of far worse. Which of those felony charges do you think is such a terrible thing? Look into any of them. Without looking it up, can you even tell me what 3 or 4 of them are? Of course not.

The bankruptcies are comical. He's started hundreds of businesses. Having a few failures along the way still means something around a 99% success rate. Sure, there were some spectacular failures like the hotel, airline, vodka, but if you are a larger than life character having a go at all sorts of things and you have a few failures along the way, and someone focuses on the 1% failure instead of the 99% success (the guy is literally a billionaire so I don't think bankruptcy is a big problem of his) says something bad about you, not him. Most of the time people view stories of people repeatedly failing then finally succeeding as wonderful and inspirational, but you look at some isolated failures as a reason to denigrate. That's on you.

'Known to hang with pedophiles'? What are you on about? What are you implying? Trump clearly has a type, he likes blondes in their 20s with big boobs, he's very clearly not a kiddy fiddler and has never done anything sus in that way. Are you just referring to him having been at the same events as Epstein and having a few pictures with him? Epstein was a high profile person who interacted with all the high level folks in those circles, what's your point?

There's plenty to dislike about Trump so it's weird that your best attempt to denigrate him exclusively uses nonsense. Maybe it's time to stop blindly believing absurd propaganda.

In any case, Trump is irrelevant as to whether or not the gold is there, as is an internal audit where the people with a vested interest in you believing it's there 'confirms' it's there in a way no external people can confirm. The 'trust the government, it's crazy to have doubts about the government!' argument is insane.

You need an independent audit to confirm anything. Whether or not it is there, obviously those people are going to say it is.
 
bettamania said:
This is my modest drawing on a simple traditional manual charting :). Still a bit more room to expand.

As per usual, I am not a certified chartist or recommending people to buy and sell (which is my ultimate disclaimer)

View attachment 195887
Click to expand...
Thanks @bettamania . On ASF we don't usually disclaim. No need to add disclaimers. It gets in the way of the message. Just don't give advice. If you search "advice" in the search box Joe Blow has some good posts on this topic. Your post did not give advice. So I won't sue you. Just joking. Also no need to type DYOR or other similar disclaimers. Even if you inadvertently did, ASIC who are in charge of monitoring financial advice are such a mob of dysfunctional morons they wouldn't notice.

Now, exactly what are you showing or conveying or suggesting on the chart you posted from July 2021 to now on Gold CFD's ?

gg
 
Garpal Gumnut said:
Thanks @bettamania . On ASF we don't usually disclaim. No need to add disclaimers. It gets in the way of the message. Just don't give advice. If you search "advice" in the search box Joe Blow has some good posts on this topic. Your post did not give advice. So I won't sue you. Just joking. Also no need to type DYOR or other similar disclaimers. Even if you inadvertently did, ASIC who are in charge of monitoring financial advice are such a mob of dysfunctional morons they wouldn't notice.

Now, exactly what are you showing or conveying or suggesting on the chart you posted from July 2021 to now on Gold CFD's ?

gg
Click to expand...
Third leg fibonacci is normally the longest
 
Sdajii said:
Your TDS is heavily on display here. The 'felony charges' are all completely trivial nonsense which his political opponents would not have to worry about and all of whom are clearly guilty of far worse. Which of those felony charges do you think is such a terrible thing? Look into any of them. Without looking it up, can you even tell me what 3 or 4 of them are? Of course not.

The bankruptcies are comical. He's started hundreds of businesses. Having a few failures along the way still means something around a 99% success rate. Sure, there were some spectacular failures like the hotel, airline, vodka, but if you are a larger than life character having a go at all sorts of things and you have a few failures along the way, and someone focuses on the 1% failure instead of the 99% success (the guy is literally a billionaire so I don't think bankruptcy is a big problem of his) says something bad about you, not him. Most of the time people view stories of people repeatedly failing then finally succeeding as wonderful and inspirational, but you look at some isolated failures as a reason to denigrate. That's on you.

'Known to hang with pedophiles'? What are you on about? What are you implying? Trump clearly has a type, he likes blondes in their 20s with big boobs, he's very clearly not a kiddy fiddler and has never done anything sus in that way. Are you just referring to him having been at the same events as Epstein and having a few pictures with him? Epstein was a high profile person who interacted with all the high level folks in those circles, what's your point?

There's plenty to dislike about Trump so it's weird that your best attempt to denigrate him exclusively uses nonsense. Maybe it's time to stop blindly believing absurd propaganda.

In any case, Trump is irrelevant as to whether or not the gold is there, as is an internal audit where the people with a vested interest in you believing it's there 'confirms' it's there in a way no external people can confirm. The 'trust the government, it's crazy to have doubts about the government!' argument is insane.

You need an independent audit to confirm anything. Whether or not it is there, obviously those people are going to say it is.
Click to expand...
When you deliberately go into Chapter 11 to not pay creditors it says a lot about someone, and it wasn't a one off event. The only thing he's successful at is ripping people off, even ripped Epstein off and now he's in the government.

Maybe look up Trump's past, boat cruises with underage models groping them and walking into changing rooms while ladies undress, tells the whole world he would screw his own daughter. Sorry, but that **** from a grown man is sick.
 
bettamania said:
Third leg fibonacci is normally the longest
Click to expand...
I think you ar mixing up terms. Elliott wave theory would state that the 3rd wave is the longest . However your 3rd wave is actually a 5th wave. 1 is up, 2 is down, 3 is up, 4 is down, 5 is up followed by a 1,2,3 to make the 2nd wave of a larger pattern. The Fibonacci numbers/sequence is used in Elliott Wave analysis.

When you posted it I thought you would reply as such. Don't worry we are all learning and need to start somewhere.

When I first started on ASF nearly 20 years ago I learnt heaps from using the "Search function " in ASF. There is actually a good thread from Joe Blow on how to search. Just search for "search". And a thread on Elliott Wave theory and on Fibonacci.

I enjoy your posts. Keep it up. Make your millions.

gg
 
Garpal Gumnut said:
I think you ar mixing up terms. Elliott wave theory would state that the 3rd wave is the longest . However your 3rd wave is actually a 5th wave. 1 is up, 2 is down, 3 is up, 4 is down, 5 is up followed by a 1,2,3 to make the 2nd wave of a larger pattern. The Fibonacci numbers/sequence is used in Elliott Wave analysis.

When you posted it I thought you would reply as such. Don't worry we are all learning and need to start somewhere.

When I first started on ASF nearly 20 years ago I learnt heaps from using the "Search function " in ASF. There is actually a good thread from Joe Blow on how to search. Just search for "search". And a thread on Elliott Wave theory and on Fibonacci.

I enjoy your posts. Keep it up. Make your millions.

gg
Click to expand...
apology mista, as I said before I am not a chartist just "a nobody" :)
 
TimeISmoney said:
When you deliberately go into Chapter 11 to not pay creditors it says a lot about someone, and it wasn't a one off event. The only thing he's successful at is ripping people off, even ripped Epstein off and now he's in the government.

Maybe look up Trump's past, boat cruises with underage models groping them and walking into changing rooms while ladies undress, tells the whole world he would screw his own daughter. Sorry, but that **** from a grown man is sick.
Click to expand...

Hey, as I said, there's plenty to dislike about the guy, I could give a list of my own examples, but the lawfare stuff is just nonsense, and while the world of business is cutthroat, Trump was just acting as an astute businessman according to the way things are typically done. Again, I don't like it, but it's not unique or unusual in business, it's just normal - doesn't make it's good but singling out Trump and ignoring everyone else makes no sense.

He's not a kiddy fiddler, but I will agree that he has a messed up relationship with his daughter! He definitely takes pride and fondness for Ivanka too far, over the line into Inappropriateville! Not the biggest example I'd use, but a valid one.

But still, the fact that you dragged the topic to Trump using mostly empty/false arguments (and ignoring the genuine ones, of which there are plenty) when it was irrelevant, says plenty about your TDS.

He's an excellent businessman and manager. He's a brilliant showman and entertainer. If someone with his personality turned up to my barbecue I'd kick him out. It says more about the terrible standards than Trump being good, but he's the best president the USA has had since... ugh... arguably Bush Senior, or if not Bush, Reagan. The Clintons and Obama were knowingly helping destroy the country (Obama wanted to, the ClIntons were just sellouts), Dubya was just an empty suit, Biden was a potato posing as a puppet (nearly forgot him entirely), Reagan was flawed but not as much as Trump. Trump will certainly sell out and he has demonstrated it clearly, especially taking money from big pharma and repaying the favours handsomely, but he actually is trying to save the USA, which is probably impossible at this point, but he is the first in decades to actually be trying (which isn't mutually exclusive with being a self-serving sellout).

Anyway, it would be better to focus on the topic of the thread.
 

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