Where Is Gold Going In This Market

[lannarebirth]

bought back Zhaojin Mining for a second time more expensive than i sold

http://www.bloomberg...?ticker=1818:HK

World's most wanted gold stocks: not just the usual suspects

http://www.mineweb.c...tail&pid=102055

For about two-thirds of Tuesday, New York time, there was panic buying of gold stocks, and then a hefty sell off; stock pricing patterns followed dollar gold bullion, which peaked at USD 1,424.60 an ounce before later making a low of USD 1,382.80 for the day.

http://www.mineweb.c...tail&pid=102055

In technical analysis terms it would be called a "Daily Key Reversal",

[churchill]

Morgan Stanley's currency view suggests sustained support for gold

The bank's views on the outlook for the currency markets and their implied underlying turmoil, suggests that risk-hedgers will want to maintain long gold positions

http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=114700&sn=Detail&pid=102055

[lannarebirth]

Morgan Stanley's currency view suggests sustained support for gold

The bank's views on the outlook for the currency markets and their implied underlying turmoil, suggests that risk-hedgers will want to maintain long gold positions

http://www.mineweb.c...tail&pid=102055

If there is an 80% correlation between most asset classes (some harder than others), which there seems to be and is inclusive of Gold, how does it act as a hedge?

[churchill]

Morgan Stanley's currency view suggests sustained support for gold

The bank's views on the outlook for the currency markets and their implied underlying turmoil, suggests that risk-hedgers will want to maintain long gold positions

http://www.mineweb.c...tail&pid=102055

If there is an 80% correlation between most asset classes (some harder than others), which there seems to be and is inclusive of Gold, how does it act as a hedge?

I suppose it is perception , One could also invest in other assets , but Central Banks amongst others seem to want to hold gold as a hedge against USD weakness / I saw 2 interviews recently with Central Bankers on CNBC - 1st From Lebanon that holds , so they said ,one of the highest gold reserves in the Middle East - He said he was holding and would not be selling as it was a hedge against $ weakness and 2nd from Sri Lanka who said the same AND that they would manage their reserves to maintain 10-20% in Gold /

[churchill]

Morgan Stanley's currency view suggests sustained support for gold

The bank's views on the outlook for the currency markets and their implied underlying turmoil, suggests that risk-hedgers will want to maintain long gold positions

http://www.mineweb.c...tail&pid=102055

If there is an 80% correlation between most asset classes (some harder than others), which there seems to be and is inclusive of Gold, how does it act as a hedge?

I suppose it is perception , One could also invest in other assets , but Central Banks amongst others seem to want to hold gold as a hedge against USD weakness / I saw 2 interviews recently with Central Bankers on CNBC - 1st From Lebanon that holds , so they said ,one of the highest gold reserves in the Middle East - He said he was holding and would not be selling as it was a hedge against $ weakness and 2nd from Sri Lanka who said the same AND that they would manage their reserves to maintain 10-20% in Gold /

Found the Sri Lanka interview - after about 3 minutes if you don't want to watch it all /

http://www.cnbc.com/id/15840232?video=1640159962&play=1

[Abrak]

For about two-thirds of Tuesday, New York time, there was panic buying of gold stocks, and then a hefty sell off; stock pricing patterns followed dollar gold bullion, which peaked at USD 1,424.60 an ounce before later making a low of USD 1,382.80 for the day.

http://www.mineweb.c...tail&pid=102055

In technical analysis terms it would be called a "Daily Key Reversal",

Lanna, was it actually a 'key reversal' in technical terms or are you simply commenting on the 'blog'....panic buying, higher highs, sell off, close at lows.... etc... And was it the same in silver?

[lannarebirth]

For about two-thirds of Tuesday, New York time, there was panic buying of gold stocks, and then a hefty sell off; stock pricing patterns followed dollar gold bullion, which peaked at USD 1,424.60 an ounce before later making a low of USD 1,382.80 for the day.

http://www.mineweb.c...tail&pid=102055

In technical analysis terms it would be called a "Daily Key Reversal",

Lanna, was it actually a 'key reversal' in technical terms or are you simply commenting on the 'blog'....panic buying, higher highs, sell off, close at lows.... etc... And was it the same in silver?

Both Silver and Gold put in Daily (short term) key reversals on Tuesday. Neither has shown intermediate (weekly) or longer term (monthly) key reversals. My definition of a key reversal is that a higher high and a lower low is printed than a prior high that was the previous interval. With this QE2 it's Magic 8 Ball stuff but still one trys to stick to what they know, or think they know.

[churchill]

Talk of large Gold/EUR order having gone through

There is talk that a "big" order to buy Gold/sell euro has been going through the market this morning.

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=31e22138-43cc-4dd6-b300-2ff7630834b7

[Naam]

Talk of large Gold/EUR order having gone through

There is talk that a "big" order to buy Gold/sell euro has been going through the market this morning.

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=31e22138-43cc-4dd6-b300-2ff7630834b7

couldn't have been mine as i paid with dollars

[churchill]

Talk of large Gold/EUR order having gone through

There is talk that a "big" order to buy Gold/sell euro has been going through the market this morning.

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=31e22138-43cc-4dd6-b300-2ff7630834b7

add another flash crash strange trade !

On Thursday, the benchmark Kospi index fell 2.7 per cent at the close of trade on what we understand was a single large computer-driven sell programme originating from a European bank:

http://ftalphaville.ft.com/blog/2010/11/11/401566/a-kospi-conundrum/

[Naam]

"Found the Sri Lanka interview - after about 3 minutes if you don't want to watch it all"

insignificant small country with insignificant small forex reserves which makes gold holdings of 10-20% insignificant small.

p.s. the remark "would manage their reserves to maintain 10-20% in Gold", id est a difference of 100% depicts in my [not so] humble view a clown.

:jap:

[churchill]

"Found the Sri Lanka interview - after about 3 minutes if you don't want to watch it all"

insignificant small country with insignificant small forex reserves which makes gold holdings of 10-20% insignificant small.

p.s. the remark "would manage their reserves to maintain 10-20% in Gold", id est a difference of 100% depicts in my [not so] humble view a clown.

:jap:

Yes probably , but all the central banks in this area seem to be buying gold and perhaps have the same policy - towards ? 20% and so India ....

[Naam]

"but all the central banks in this area seem to be buying gold and perhaps"

where's the beef besides the IMF/India deal because of dwindling USD value fear as far as indian reserves are concerned?

Edited November 11, 2010 by Naam

[churchill]

"but all the central banks in this area seem to be buying gold and perhaps"

where's the beef besides the IMF/India deal because of dwindling USD value fear as far as indian reserves are concerned?

I'm not sure I understand what you're trying to say - but I should have said 'Central Banks in this area ARE buying Gold ' and if this ' Clown ' from Sri Lanka has confirmed that his bank is buying upto 20% of its reserves into Gold - I would think it quite probable that India , Bangladesh , Sri Lanka hold similar views ?

[churchill]

Anti-gold fever

'As Mr. Skidelsky interprets the idea, the result of Mr. Zoellick's proposal would be a new global currency system built around a "super sovereign reserve currency" with some kind of reference to gold as an anchor. This would fit with Keynes' idea that "gold would be useful as a constitutional monarch, but disastrous as a despot."

All in all, the sudden attention paid to a new gold standard is likely to fade. The prospect for some new gold standard is zero. As a result, the future of the world monetary system -- even under some new super sovereign reserve -- seems destined to ease quantitatively toward a new structure where inflationary paper continues to trump gold.'

Read more: http://www.financialpost.com/news/features/Anti+gold+fever/3810735/story.html#ixzz14z04cKH7

[flying]

If there is an 80% correlation between most asset classes (some harder than others), which there seems to be and is inclusive of Gold, how does it act as a hedge?

I suppose it is perception , One could also invest in other assets , but Central Banks amongst others seem to want to hold gold as a hedge against USD weakness / I saw 2 interviews recently with Central Bankers on CNBC - 1st From Lebanon that holds , so they said ,one of the highest gold reserves in the Middle East - He said he was holding and would not be selling as it was a hedge against $ weakness and 2nd from Sri Lanka who said the same AND that they would manage their reserves to maintain 10-20% in Gold /

Was it rice or sugar you bought not long ago LB?

Commodities could be a nice place to be

Edited November 11, 2010 by flying

[Naam]

"but all the central banks in this area seem to be buying gold and perhaps"

where's the beef besides the IMF/India deal because of dwindling USD value fear as far as indian reserves are concerned?

I'm not sure I understand what you're trying to say - but I should have said 'Central Banks in this area ARE buying Gold ' and if this ' Clown ' from Sri Lanka has confirmed that his bank is buying upto 20% of its reserves into Gold - I would think it quite probable that India , Bangladesh , Sri Lanka hold similar views ?

the Sri Lankan clown said nothing about buying but "maintaining 10-20% of the reserves in gold". "anal-ysing" what he said turns up the result "clown". i already commented on India but refuse to comment on a beggar nation like Bangla Desh.

[badge]

For about two-thirds of Tuesday, New York time, there was panic buying of gold stocks, and then a hefty sell off; stock pricing patterns followed dollar gold bullion, which peaked at USD 1,424.60 an ounce before later making a low of USD 1,382.80 for the day.

http://www.mineweb.c...tail&pid=102055

In technical analysis terms it would be called a "Daily Key Reversal",

Lanna, was it actually a 'key reversal' in technical terms or are you simply commenting on the 'blog'....panic buying, higher highs, sell off, close at lows.... etc... And was it the same in silver?

Both Silver and Gold put in Daily (short term) key reversals on Tuesday. Neither has shown intermediate (weekly) or longer term (monthly) key reversals. My definition of a key reversal is that a higher high and a lower low is printed than a prior high that was the previous interval. With this QE2 it's Magic 8 Ball stuff but still one trys to stick to what they know, or think they know.

Just fwiw my definition includes at minimum of 4 consecutive closes(e.g up) prior to any 'key reversal'(e.g down), without which I consider it just a reversal bar/candle etc.

[ExpatJ]

Cramer on CNBC made a big push for gold yesterday- recommending a holding of 20% per portfolio- this, plus a potential default by Ireland are going to push prices up...just put in another order for 10 baht this morning

http://www.cnbc.com/id/40131687

[lannarebirth]

Just fwiw my definition includes at minimum of 4 consecutive closes(e.g up) prior to any 'key reversal'(e.g down), without which I consider it just a reversal bar/candle etc.

Do you have to take out all four up days with the single down candle?

[churchill]

Buffett doesn't like gold because it's got no intrinsic value.

What if it could be used to save energy and absorb CO2 !

see 'Gold nanoparticles turn trees into streetlights'

http://www.gizmag.com/glowing-trees-using-gold-nanoparticles/16917/

Edited November 12, 2010 by churchill

[flying]

hmmm jumpy

Edited November 12, 2010 by flying

[lannarebirth]

If there is an 80% correlation between most asset classes (some harder than others), which there seems to be and is inclusive of Gold, how does it act as a hedge?

I suppose it is perception , One could also invest in other assets , but Central Banks amongst others seem to want to hold gold as a hedge against USD weakness / I saw 2 interviews recently with Central Bankers on CNBC - 1st From Lebanon that holds , so they said ,one of the highest gold reserves in the Middle East - He said he was holding and would not be selling as it was a hedge against $ weakness and 2nd from Sri Lanka who said the same AND that they would manage their reserves to maintain 10-20% in Gold /

Was it rice or sugar you bought not long ago LB?

Commodities could be a nice place to be

Rice

[Naam]

Cramer on CNBC made a big push for gold yesterday- recommending a holding of 20% per portfolio- this, plus a potential default by Ireland are going to push prices up...just put in another order for 10 baht this morning

http://www.cnbc.com/id/40131687

i was looking for a reason why gold dropped like a stone. now i know

[Naam]

Buffett doesn't like gold because it's got no intrinsic value.

What if it could be used to save energy and absorb CO2 !

see 'Gold nanoparticles turn trees into streetlights'

http://www.gizmag.com/glowing-trees-using-gold-nanoparticles/16917/

Danziger Goldwasser cures athlete's foot, erectile dysfunction and hair loss

http://en.wikipedia.org/wiki/Goldwasser

[flying]

i was looking for a reason why gold dropped like a stone. now i know

Ain't it the truth

[crusader79]

QE explained, at last

[ExpatJ]

"Found the Sri Lanka interview - after about 3 minutes if you don't want to watch it all"

insignificant small country with insignificant small forex reserves which makes gold holdings of 10-20% insignificant small.

p.s. the remark "would manage their reserves to maintain 10-20% in Gold", id est a difference of 100% depicts in my [not so] humble view a clown.

:jap:

dude, you have to look at the big picture and not respond to every small story separately- one could easily get confused

India, Bangladesh, Sri Lanka and Mauritius central banks are all buying gold- 2010 central banks will be net buyers for only secound time since 1998.

[flying]

QE explained, at last

Man that was good Thanks

It does in fact make you want to bang your head on the wall.

Edited November 13, 2010 by flying

[badge]

Just fwiw my definition includes at minimum of 4 consecutive closes(e.g up) prior to any 'key reversal'(e.g down), without which I consider it just a reversal bar/candle etc.

Do you have to take out all four up days with the single down candle?

Hey LB, no is the answer, but if it were a key reversal it probably should!

How much stock one puts in these things in another matter of course