Where Is Gold Going In This Market

[flying]

I find it interesting that Paul Rubino discribe occupy as left wing and the tea party as ultra right wing. I am sure Jingthing does too lol.

I think it all comes from viewing through the media prism.

They always need to label.

[DummDays]

I just want to give my "2cents" to Gold, based on a recent EW Aalyse by a german Analyst

for Postiontraders, difficult, if we go far over 1770

1662 should confirm Short for the Time

but buying Pressure could come up anytime - watch the USDX and the Deptcrisis

however - the weekly Gold Chart could suggest, that the Bottom was found

RSI seems to moove upwards, but the Stochastic is still pointing down

I am new to this, so please critize my Charts at any Time - I just guess at the Moment

Good Trades

Edited October 15, 2011 by DummDays

[Naam]

I am new to this, so please critize my Charts at any Time - I just guess at the Moment

your charts look OK to me. the voodoo priestess i consult for financial advice arrived at similar results after evaluating chicken entrails

[DummDays]

I am new to this, so please critize my Charts at any Time - I just guess at the Moment

your charts look OK to me. the voodoo priestess i consult for financial advice arrived at similar results after evaluating chicken entrails

Thank you very much for your Critizism - but please be more constructive, than talking about Voodoo and Chicken

sorry to say that

[Naam]

I am new to this, so please critize my Charts at any Time - I just guess at the Moment

your charts look OK to me. the voodoo priestess i consult for financial advice arrived at similar results after evaluating chicken entrails

Thank you very much for your Critizism - but please be more constructive, than talking about Voodoo and Chicken

sorry to say that

i did not criticise but added my personal opinion. as far as i know there is no requirement for opinions to be constructive or supportive of any other opinion. by the way, i am not the only one who compares financial forecasts based on charts with voodoo and reading of tea leaves. and... i'm not sorry to say that

[Naam]

A long but very good speech given by Chris Powell

in London yesterday.

Chris Powell: Gold price suppression purposes and proofs

As Harvey Organ said...

Take your time reading this. It is long but well worth your reading time. If you understand this you understand the entire fraudulent banking scheme.

quite interesting and well written, however full of conclusions based on quite a number of (i admit logical) assumptions. unfortunately the only tangible fact that has underlying clear evidence is

"For then the world might understand why even at its recent price above $1,600 per ounce gold has not come close to keeping up with the inflation..."

signed:

Naam (acting advocatus diaboli)

[churchill]

I am new to this, so please critize my Charts at any Time - I just guess at the Moment

your charts look OK to me. the voodoo priestess i consult for financial advice arrived at similar results after evaluating chicken entrails

Thank you very much for your Critizism - but please be more constructive, than talking about Voodoo and Chicken

sorry to say that

Charts going off the chart ........

THE MOST IMPORTANT DECISION BERNANKE WILL EVER MAKE

http://goldscents.blogspot.com/2011/10/most-important-decision-bernanke-will.html

[DummDays]

Lets see a technical View in a bigger Picture, Gold and related Commodities, Bonds and Miners included

http://blogs.stockcharts.com/canada/

Edited October 16, 2011 by DummDays

[Firefan]

Great video! Thanks! Cheers!

[midas]

Yuan Gold Trading in Hong Kong on 'Triple Demand' ‎- China Positioning CNY as Reserve Currency

" With gold now traded in yuan, it is only a matter of time before oil is traded in yuan thereby positioning the yuan as ‘petro yuan’ and a rival to the petrodollar’s status as the global reserve currency."

" The Chinese Gold & Silver Exchange said that the service, dubbed "Renminbi Kilobar Gold," is targeting retail and institutional investors. The product is among the latest offerings designed to tap the fast-growing pool of yuan deposits within Hong Kong banking system."

The society, started in 1910, will consider trading silver in the Chinese currency later, Cheung said, declining to identify the timeframe. The society has imposed a daily ceiling of 300 kilos for physical delivery of gold denominated in yuan to avoid depleting the currency pool in Hong Kong, he said.

“The sudden influx into gold bars may take away half of the yuan liquidity in Hong Kong,” Cheung said.

http://www.zerohedge.com/news/yuan-gold-trading-hong-kong-triple-demand-%3F-china-positioning-cny-reserve-currency

Edited October 17, 2011 by midas

[ExpatJ]

Today was dividend payout day for the Kbank Gold Fund investors- a nice 1000 US$ in the bank for me (one of 5 yearly dividend payments from this fund) . Who says you cant make regular returns from gold

[fletchsmile]

Today was dividend payout day for the Kbank Gold Fund investors- a nice 1000 US$ in the bank for me (one of 5 yearly dividend payments from this fund) . Who says you cant make regular returns from gold

Just curious - did they deduct 10% witholding tax on the div? Or did you elect to pay tax separately on it at your marginal rate?

[ExpatJ]

Today was dividend payout day for the Kbank Gold Fund investors- a nice 1000 US$ in the bank for me (one of 5 yearly dividend payments from this fund) . Who says you cant make regular returns from gold

Just curious - did they deduct 10% witholding tax on the div? Or did you elect to pay tax separately on it at your marginal rate?

They deducted it...

[letitbe]

A home costing $40,000 in 1980 is a home that costs $400,000 is 2011

only if gold or oil was found in the backyard.

not in uk a house costing an average 4,000 gbp in 1974 is now even with prices falling costing around 200,000 gbp crazy but true ive been doing property in USA and Uk for 40 years Property now in USA is an absolute bargain in places like florida with rental yields getting back to 10% while in UK they are still only around 4-5% or less

[letitbe]

the simple explanation is: Gold has NO intrinsic value (as the goldbugs claim). actually nothing exists which has intrinsic value if there is no demand. stranded on an uninhabitated island the demand for Gold is ZERO. on this island the art of hunting and fishing as well as the knowledge of a source with drinkable water is a zillion times superior in intrinsic values than tons of Gold

Very true. Gold cannot be eaten, cannot be used as roof to live in, has not ROI , its use in industry is limited.

Its value has been given by mankind, only because we think gold is "cool".

The excuses "it doesn' t get spoiled nor rotten in time, etc etc" are plain stupid excuses, since stainless steel also is very resistant and doesn't get rotten and has a much bigger industrial use, nevertheless its value is much lower.

The rally in price of gold , silver and other precious metals is a rally similar to what you saw already in real estate, in oil, in rice & wheat, etc...

Market, speculation.

The "fundamentals" are plain temporary excuses to fool the gullible and make them buy expensive.

It's SOOOO funny the "experts" and anal-ists are giving out free pieces of advice recommending buying gold and silver because they are "soooo undervalued" now, but they did't say those things a year or two ago when their prices were half of today's.

The same thing happened when financial gurus recommended to buy oil future at $120-$130 coz it was going to reach +$200 in a matter of month.

You know, I always follow what anal-ists say , in the way i do exactly the opposite of what they recommend ;-)

Regarding LONG term investiment , i have no shame to say -even now it's down- real estate and/or productive land is the best investment.

It has got a ROI and dam_n it, we all need a piece of land to be in this planet, even if we are in a desert island, if the desert island is a private property, we will need to pay the rent to its owner .

Regarding short term investment, well, for me gold now sucks coz it's expensive, it was damned good a couple of years ago under $1000 when nobody was recommending it !

Im also heavily into property and long term gold is a very bad investment but IMO its still a very good hedge against fiat currency and when real crash comes although longer term youll be fine in property shorter term your rents iwll be worth a lot less and property in crisis will drop even more so you need some easily tradable asset like gold to buy essentials and then to sell when bubble really explodes. IMO its got a long long way to go but if not great my property and shares are safe and that will always be 70% of our portfolio. Ive done property 40 years nd it will be fine for another 40 years but with world in a complete mess you'd be stupid IMO not to hold some gold silver as insurance and something which will always buy food and rest you need while world sorts out another new money

[letitbe]

Yuan Gold Trading in Hong Kong on 'Triple Demand' ‎- China Positioning CNY as Reserve Currency

" With gold now traded in yuan, it is only a matter of time before oil is traded in yuan thereby positioning the yuan as ‘petro yuan’ and a rival to the petrodollar’s status as the global reserve currency."

" The Chinese Gold & Silver Exchange said that the service, dubbed "Renminbi Kilobar Gold," is targeting retail and institutional investors. The product is among the latest offerings designed to tap the fast-growing pool of yuan deposits within Hong Kong banking system."

The society, started in 1910, will consider trading silver in the Chinese currency later, Cheung said, declining to identify the timeframe. The society has imposed a daily ceiling of 300 kilos for physical delivery of gold denominated in yuan to avoid depleting the currency pool in Hong Kong, he said.

“The sudden influx into gold bars may take away half of the yuan liquidity in Hong Kong,” Cheung said.

http://www.zerohedge...eserve-currency

nonsense gold is traded in every currency and always has been

[midas]

" These continued raids, these paper raids on gold that knock the price down, it just makes it that much easier for the Chinese to buy gold at a bargain price and they are doing it.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/18_John_Embry_-_Gold_%26_Silver_Close_to_Taking_Off.html

[Naam]

chicken entrails, tea leaves and the like from some J.P. Morgan anal-lusters:

Is Gold’s Bull Run About to End?

Though crossing above its 21-day moving average, which had fallen to the

$1,670 level, on two occasions since then, on October 14 and 17, the price of

gold on October 18 fell to $1,651.7, which pulled it again below the line of this

moving average. In terms of good and bad times for gold, the metal fell during

the 24 trading days from August 22 to September 26, and recouped 30.1% of

this loss during the 14 trading days from September 26 to October 14.

Figure 2 shows a similar price behavior of the NASDAQ in relation to its 5-day

and 21-day moving averages at the time the index peaked in 2000. The

NASDAQ, which had peaked on March 10, fell during the subsequent 25

trading days until April 14, but after that was on a gentle recovery track until

May 1, though remaining on course for crossing below its 21-moving average,

as expected. The index recouped 36.9% of its loss in 10 trading days. The

number of days between the peak and trough, the number of days it took to

recover and the rate of recovery show a compelling similarity between the

current behavior of the gold price and that of the NASDAQ in 2000.

The NASDAQ, which had crossed above its 21-day moving average only on one

occasion, on May 1, 2000, suffered a setback on the following day, and after that

kept probing for a bottom until May 23, all the while remaining below its 21-moving

average. There were 16 trading days during the period from May 1 to 23. This time,

gold hit its recovery high on October 14. The 16th trading day after that day is

November 11. If the price of gold displays the same behavior as the NASDAQ in

2000, it should again test the $1,600 level on the downside in the lead-up to

November.

Going forward, a key point to watch about the gold price will be its relationship with

its 26-week moving average, which has acted as a support line on the metal’s way up

since 2009 (Figure 4). So far, the gold price has dropped below its 26-week moving

average only on two occasions, in the second week of July 2009 and the first week of

February 2010. On both occasions, the price stayed only a week below this line, and

the margins of decline amounted to no more than 1.4% and 1.2% below the 26-week

moving average. The current 26-week moving average is $1,628. If the gold price

should indeed test the $1,600 level, this would mean a deviation of –2% to –3% from

its 26-week moving average. True, this may fall within the margin of error, but it

would still probably mean that gold’s three-year bull run was about to come to an

end, in our view.

The relative value of gold has remained on an upward trend for as long as the

unemployment rate has remained high (and the deflation gap has refused to narrow).

Gold’s bull run since 2009 reflects concern over deflation, in our view. If we assume

that the price of gold reverses trend, we think this could reasonably be interpreted as

reflecting the retreat of concern over deflation. This means the gold price will again

be the focus of market interest in the lead-up to November.

[Naam]

LO AND BEHOLD! HEAR YE OH INFIDELS...

John Embry - Gold & Silver Close to Taking Off

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/18_John_Embry_-_Gold_%26_Silver_Close_to_Taking_Off.html

[farang000999]

silver is an industrial metal despite what people on youtube proclaim.

So steel, brass and copper are.

But they dont worth a fraction of what silver worths.

All "precious" metals are precious because we decided that they look good or are cool.

In terms of intrinsic values they are TREMENDOUSLY overestimated, I don't mean they worth zero, but for sure the industrial use of silver doesn't justify its price of $30-40 /onze.

Maybe $5 and it's already too much ! There are rare metals , much more rare than silver which have HUGE industrial use in electronic and they are much cheaper than silver.

Why ? They are rare, yes, they are useful ,yes, but they are not.....PRECIOUS....

Think about this guys, It's not a joke. Don't put too much trust in those precious metals, it's just another market rally as they had been many before !

except that world governments are the ones who say that GOLD is precious so there is that.

[Naam]

world governments

??? ???

[midas]

silver is an industrial metal despite what people on youtube proclaim.

So steel, brass and copper are.

But they dont worth a fraction of what silver worths.

All "precious" metals are precious because we decided that they look good or are cool.

In terms of intrinsic values they are TREMENDOUSLY overestimated, I don't mean they worth zero, but for sure the industrial use of silver doesn't justify its price of $30-40 /onze.

Maybe $5 and it's already too much ! There are rare metals , much more rare than silver which have HUGE industrial use in electronic and they are much cheaper than silver.

Why ? They are rare, yes, they are useful ,yes, but they are not.....PRECIOUS....

Think about this guys, It's not a joke. Don't put too much trust in those precious metals, it's just another market rally as they had been many before !

except that world governments are the ones who say that GOLD is precious so there is that.

Yes well there you go! in comparison fiat currencies have so many other potential uses

[Naam]

Yes well there you go! in comparison fiat currencies have so many other potential uses

for the record: not only yesterday, but last week, last month, last year and many years ago most fiat currencies could buy any amount of gold, silver, copper, oil, ricefields, real estate and you name it. and that also applies for today as well as for tomorrow.

summary: the apocalyptic forecasts for fiat currencies have been until now either wishful thinking, wet dreams or a combination of both.

my wife will be doing today her weekly shopping. take a wild guess how she will pay for the goods she is going to buy. Krüger Rands? Maple Leaves? Eagles? Crédit Suisse gold bars? bags of rice? or Thai Baht?

Edited October 20, 2011 by Naam

[midas]

Yes well there you go! in comparison fiat currencies have so many other potential uses

for the record: not only yesterday, but last week, last month, last year and many years ago most fiat currencies could buy any amount of gold, silver, copper, oil, ricefields, real estate and you name it. and that also applies for today as well as for tomorrow.

summary: the apocalyptic forecasts for fiat currencies have been until now either wishful thinking, wet dreams or a combination of both.

my wife will be doing today her weekly shopping. take a wild guess how she will pay for the goods she is going to buy. Krüger Rands? Maple Leaves? Eagles? Crédit Suisse gold bars? bags of rice? or Thai Baht?

and for the record I'm sure in all the examples of past currency failures many people thought the same way as you just before the collapse

Examples of Fiat Money Failures Throughout History

http://www.rapidtrends.com/examples-of-fiat-money-failures-throughout-history-could-the-us-repeat-this/

[Kwasaki]

Yes well there you go! in comparison fiat currencies have so many other potential uses

for the record: not only yesterday, but last week, last month, last year and many years ago most fiat currencies could buy any amount of gold, silver, copper, oil, ricefields, real estate and you name it. and that also applies for today as well as for tomorrow.

summary: the apocalyptic forecasts for fiat currencies have been until now either wishful thinking, wet dreams or a combination of both.

my wife will be doing today her weekly shopping. take a wild guess how she will pay for the goods she is going to buy. Krüger Rands? Maple Leaves? Eagles? Crédit Suisse gold bars? bags of rice? or Thai Baht?

That's great stuff, keep on teaching the newbie's my alien friend, live long and prosper.

[Naam]

and for the record I'm sure in all the examples of past currency failures many people thought the same way as you just before the collapse

currency failures don't come overnight Midas. it is highly unlikely that Mrs Naam's Baht are rejected in Friendship or Carrefour tomorrow, next week or next month.

unfortunately most of the times the average "poor" citizen, who lives from hand to mouth and does not have the means to counteract, is hit hardest by hyperinflation and the like. those with the means of acquiring tangible assets with paper money were always better off because there was always ample time to act.

by the way, some often highly promoted tangible assets may also become failures. i refer to flooded rice fields or any fields where food stuff is grown. and the old Romans who reduced the silver content in the coins were choir boys compared to those who cause inflation and currency failures nowadays.

[churchill]

and for the record I'm sure in all the examples of past currency failures many people thought the same way as you just before the collapse

currency failures don't come overnight Midas. it is highly unlikely that Mrs Naam's Baht are rejected in Friendship or Carrefour tomorrow, next week or next month.

unfortunately most of the times the average "poor" citizen, who lives from hand to mouth and does not have the means to counteract, is hit hardest by hyperinflation and the like. those with the means of acquiring tangible assets with paper money were always better off because there was always ample time to act.

by the way, some often highly promoted tangible assets may also become failures. i refer to flooded rice fields or any fields where food stuff is grown. and the old Romans who reduced the silver content in the coins were choir boys compared to those who cause inflation and currency failures nowadays.

Flat Earth ...

Now seems correct in financial terms - a level playing field ... What can be made in the east at one price must be matched in the west .. So the east has to rise whilst the west has a managed decline ie more QE ..So I think standards of living in the west will decline as they rise in the east .. until there is some balance -probably with more qe asset prices/stock markets will rise as western currencies decline - does that make sense ?

[Naam]

and for the record I'm sure in all the examples of past currency failures many people thought the same way as you just before the collapse

currency failures don't come overnight Midas. it is highly unlikely that Mrs Naam's Baht are rejected in Friendship or Carrefour tomorrow, next week or next month.

unfortunately most of the times the average "poor" citizen, who lives from hand to mouth and does not have the means to counteract, is hit hardest by hyperinflation and the like. those with the means of acquiring tangible assets with paper money were always better off because there was always ample time to act.

by the way, some often highly promoted tangible assets may also become failures. i refer to flooded rice fields or any fields where food stuff is grown. and the old Romans who reduced the silver content in the coins were choir boys compared to those who cause inflation and currency failures nowadays.

Flat Earth ...

Now seems correct in financial terms - a level playing field ... What can be made in the east at one price must be matched in the west .. So the east has to rise whilst the west has a managed decline ie more QE ..So I think standards of living in the west will decline as they rise in the east .. until there is some balance -probably with more qe asset prices/stock markets will rise as western currencies decline - does that make sense ?

a conclusion that might make sense. however, i doubt that, based on my statistical remaining life time, i will see the outcome. and of course i insist, as already mentioned, that these changes do not occur overnight. that's the reason why i often ridicule expressions like "fiat money" by people, who like me, use that "worthless" paper each and every day.

nobody has ever bought gold bars paying with gold coins. apart from rare occasions, see our mutual friend Flying who swapped a truckload silver for a wheel barrow filled with the yellow metal, gold was paid for by "toilet paper fiat money".

[midas]

and for the record I'm sure in all the examples of past currency failures many people thought the same way as you just before the collapse

currency failures don't come overnight Midas. it is highly unlikely that Mrs Naam's Baht are rejected in Friendship or Carrefour tomorrow, next week or next month.

unfortunately most of the times the average "poor" citizen, who lives from hand to mouth and does not have the means to counteract, is hit hardest by hyperinflation and the like. those with the means of acquiring tangible assets with paper money were always better off because there was always ample time to act.

by the way, some often highly promoted tangible assets may also become failures. i refer to flooded rice fields or any fields where food stuff is grown. and the old Romans who reduced the silver content in the coins were choir boys compared to those who cause inflation and currency failures nowadays.

then I will be looking out for full-page advertisements taken out by governments that have shaky currencies

in case they give notice of default how many days notice to the have to give? Is it 7 or 14 days?

[letitbe]

Yes well there you go! in comparison fiat currencies have so many other potential uses

for the record: not only yesterday, but last week, last month, last year and many years ago most fiat currencies could buy any amount of gold, silver, copper, oil, ricefields, real estate and you name it. and that also applies for today as well as for tomorrow.

summary: the apocalyptic forecasts for fiat currencies have been until now either wishful thinking, wet dreams or a combination of both.

my wife will be doing today her weekly shopping. take a wild guess how she will pay for the goods she is going to buy. Krüger Rands? Maple Leaves? Eagles? Crédit Suisse gold bars? bags of rice? or Thai Baht?

yes but today she uses baht to buy something and then in the not to far future shell probably be paying 2x baht Of course money will be reinvented and always is as ive said gold and silver for me is not an investment or to make a profit its an insurance policy in these mad times and of course we need some fiat money to pay bills but for a long time now i convert all but that absolutely necessary tp some form of proper asset be it property shares and these days increasingly PM's If when we need more cash than that immediately generated by our investments such as school fees or holidays or odd major expense then we just sell enough of gold or silver to cover it and convert to fiat money. But myself id rather risk gold or silver than almost any fiat currency except maybe swiss franc