churchill Posted February 2, 2011 Author Share Posted February 2, 2011 China to raise gold, silver reserves in 2011 'According to Central bank adviser Xia Bin, China should increase its reserves in gold and silver, said the report from the Economic Information Daily. “Increasing gold reserve at the time of prices dip is the strategy of internationalizing the Yuan,” the report said. China, the largest producer of gold, had announced last year that it would considerably step up gold reserves in the next decade to the tune of 10,000 tons. Currently, the Chinese gold reserves stand less than 1200 tons.' http://www.commodityonline.com/news/China-to-raise-gold-silver-reserves-in-2011-36118-3-1.html Link to comment Share on other sites More sharing options...
churchill Posted February 2, 2011 Author Share Posted February 2, 2011 Scary ! The mathematics of hyper-inflation http://www.financeandeconomics.org/Articles%20archive/2011.02.01%20Inflation%20maths.htm Link to comment Share on other sites More sharing options...
Naam Posted February 2, 2011 Share Posted February 2, 2011 As I said buying signals at 1310 and 1325 (a bit off on the 1325 one but close enough). Happy trading! price of gold in USD since jan31 up less than one percent, USD losing vs. major currencies (e.g. €UR, GBP, JP¥) 2 percent. one percent loss in two trading days = happy? Link to comment Share on other sites More sharing options...
lannarebirth Posted February 2, 2011 Share Posted February 2, 2011 As I said buying signals at 1310 and 1325 (a bit off on the 1325 one but close enough). Happy trading! price of gold in USD since jan31 up less than one percent, USD losing vs. major currencies (e.g. €UR, GBP, JP¥) 2 percent. one percent loss in two trading days = happy? Correct. A couple of major timing services say $USD at major turning point (up) and it is very near trendline support but it would need to prove it to me. Looks weak. Link to comment Share on other sites More sharing options...
churchill Posted February 2, 2011 Author Share Posted February 2, 2011 As I said buying signals at 1310 and 1325 (a bit off on the 1325 one but close enough). Happy trading! price of gold in USD since jan31 up less than one percent, USD losing vs. major currencies (e.g. €UR, GBP, JP¥) 2 percent. one percent loss in two trading days = happy? Trying to Look to the future - and As somebody who wants to protect their wealth and savings which currency or asset would you invest in today ? If there is - for any reason - a flight to safety - Asian currencies may suffer short term - so USD ?? Euro ? Oil ? Rice ? - or ..? Where to be safe ? It seems that gold is being held down like a spring - Waiting for an excuse / Link to comment Share on other sites More sharing options...
AlexLah Posted February 2, 2011 Share Posted February 2, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? Link to comment Share on other sites More sharing options...
HelloAgainItsME Posted February 2, 2011 Share Posted February 2, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? Congratulations on your good fortune. I would very much like to make a profit of 25000 USD in just a few days. As you do not mind sharing your wonderful success with forum members, may I ask a few questions? How did you do it? How much cash was used and put at risk? How much has been lost in past attempts to make profits, that is, how much of your original gambling/investment capital remains? By profit do you mean paper profit or have you actually banked 25000 USD? Link to comment Share on other sites More sharing options...
Naam Posted February 2, 2011 Share Posted February 2, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? sure dear Alex i assume you bought XAU friday evening @ 1327 and sold yesterday @ 1342 (the highest price since friday!). that means you bought 1,667 ounces, paid USD 2,212,110, sold these ounces for USD 2,237,110 and pocketed USD 25,000 profit? or did you leverage and applied only a peanuts amount such as slightly more than a million dollars? Link to comment Share on other sites More sharing options...
badge Posted February 3, 2011 Share Posted February 3, 2011 As I said buying signals at 1310 and 1325 (a bit off on the 1325 one but close enough). Happy trading! price of gold in USD since jan31 up less than one percent, USD losing vs. major currencies (e.g. €UR, GBP, JP¥) 2 percent. one percent loss in two trading days = happy? Correct. A couple of major timing services say $USD at major turning point (up) and it is very near trendline support but it would need to prove it to me. Looks weak. Hi Lanna, my model gave a Sell on eurusd and cable yday at 3850 and 6230 respectively. Whether they continue to be sold or the signals fail(and signal continuation) will just have to be seen. I was just wondering what timing services echoed these current areas? Link to comment Share on other sites More sharing options...
badge Posted February 3, 2011 Share Posted February 3, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? sure dear Alex i assume you bought XAU friday evening @ 1327 and sold yesterday @ 1342 (the highest price since friday!). that means you bought 1,667 ounces, paid USD 2,212,110, sold these ounces for USD 2,237,110 and pocketed USD 25,000 profit? or did you leverage and applied only a peanuts amount such as slightly more than a million dollars? It says $25.000 So presumably $25, and three decimal places on the cents, for precision? Link to comment Share on other sites More sharing options...
Naam Posted February 3, 2011 Share Posted February 3, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? sure dear Alex i assume you bought XAU friday evening @ 1327 and sold yesterday @ 1342 (the highest price since friday!). that means you bought 1,667 ounces, paid USD 2,212,110, sold these ounces for USD 2,237,110 and pocketed USD 25,000 profit? or did you leverage and applied only a peanuts amount such as slightly more than a million dollars? It says $25.000 So presumably $25, and three decimal places on the cents, for precision? Alex is a continental European Badge. we normally use the decimal point as "divider" and the comma as decimal point. i do the same when i write in german, french or spanish. only when writing in english i use 25,000 for "twenty-five thousand". Link to comment Share on other sites More sharing options...
badge Posted February 3, 2011 Share Posted February 3, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? sure dear Alex i assume you bought XAU friday evening @ 1327 and sold yesterday @ 1342 (the highest price since friday!). that means you bought 1,667 ounces, paid USD 2,212,110, sold these ounces for USD 2,237,110 and pocketed USD 25,000 profit? or did you leverage and applied only a peanuts amount such as slightly more than a million dollars? It says $25.000 So presumably $25, and three decimal places on the cents, for precision? Alex is a continental European Badge. we normally use the decimal point as "divider" and the comma as decimal point. i do the same when i write in german, french or spanish. only when writing in english i use 25,000 for "twenty-five thousand". I understand you continental types have difficulty with punctuation in prices ( ) , but it was the only reason I could ascribe to Alex writing "I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates?"? Link to comment Share on other sites More sharing options...
badge Posted February 3, 2011 Share Posted February 3, 2011 (edited) Incidentally Alex, for fun I ran the recent data on Gold through my model and it had 1310 and then likely around 1300 as Buy signals. I realise you suggest youve closed out already, but was it too obvious to be of great significance? "The obvious is obviously wrong" - Joe Granville Edited February 3, 2011 by badge Link to comment Share on other sites More sharing options...
churchill Posted February 3, 2011 Author Share Posted February 3, 2011 'Precious metals traders in London and Hong Kong said on Wednesday they were stunned by the strength of Chinese buying in the past month. “The demand is unbelievable. The size of the orders is enormous,” said one senior banker, who estimated that China had imported about 200 tonnes in three months.' http://www.ft.com/cms/s/0/f79b1824-2eed-11e0-88ec-00144feabdc0.html#axzz1CtBNaiUN Link to comment Share on other sites More sharing options...
Naam Posted February 3, 2011 Share Posted February 3, 2011 “The demand is unbelievable. The size of the orders is enormous,” stupid Chinese! their purchases must be the reason why the gold price weakened Link to comment Share on other sites More sharing options...
churchill Posted February 3, 2011 Author Share Posted February 3, 2011 “The demand is unbelievable. The size of the orders is enormous,” stupid Chinese! their purchases must be the reason why the gold price weakened Holiday !! if you hadn't noticed Perhaps Indian can help support the price ? & I saw talk that money from the Mid East was looking for a new home ! 'Gold imports in India, the world's largest consumer of the yellow metal, rose 18 percent in January to 40 tonnes provisionally, and next month's wedding season could further boost demand, head of a trade body said. "Buying was good, though there were supply issues at the end of January, when prices touched a low of about USD 1,310 (an ounce)," http://www.centralchronicle.com/viewnews.asp?articleID=56405 Link to comment Share on other sites More sharing options...
Naam Posted February 3, 2011 Share Posted February 3, 2011 “The demand is unbelievable. The size of the orders is enormous,” stupid Chinese! their purchases must be the reason why the gold price weakened Holiday !! if you hadn't noticed Chinese New Year holidays started today. price of Gold is weakening since two months. what about the recent annual headhunter congregation in Papua New Guinea? didn't their advisory board decide that all shrinkheads have to be adorned with 24k golden ears? next! Link to comment Share on other sites More sharing options...
AlexLah Posted February 3, 2011 Share Posted February 3, 2011 Incidentally Alex, for fun I ran the recent data on Gold through my model and it had 1310 and then likely around 1300 as Buy signals. I realise you suggest youve closed out already, but was it too obvious to be of great significance? "The obvious is obviously wrong" - Joe Granville Dear Badge, obviously your model was wrong as we never hit the 1300. Did you buy at 1310? Gold will go sideways for a while but we can still make money on the fluctuations between 1320 and 1350 in the coming weeks. Link to comment Share on other sites More sharing options...
HelloAgainItsME Posted February 3, 2011 Share Posted February 3, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? Hello Alex, You may have missed my post about your fabulous profit of $25000. As I would love to have the skill to do the same I wonder if you mind sharing your technique? Did you stake 2.2m USD as suggested by Naam or did you gear it up in some way? Or did you mean to say 25 USD as suggested by Badge? How exactly did you do this? 25000 USD in a few days must mean you are an exceedingly rich man. Say 25000 X 73 = 1825000 USD per annum at 25k per 5 days. I am sure you don't have to concern yourself with exchange rates. Link to comment Share on other sites More sharing options...
PCA Posted February 3, 2011 Share Posted February 3, 2011 I made a nice 25.000 USD profit dear Naam in just a few days. who cares about exchange rates? Hello Alex, You may have missed my post about your fabulous profit of $25000. As I would love to have the skill to do the same I wonder if you mind sharing your technique? Did you stake 2.2m USD as suggested by Naam or did you gear it up in some way? Or did you mean to say 25 USD as suggested by Badge? How exactly did you do this? 25000 USD in a few days must mean you are an exceedingly rich man. Say 25000 X 73 = 1825000 USD per annum at 25k per 5 days. I am sure you don't have to concern yourself with exchange rates. Ever heard of futures contracts? You put down around 3,300 US per contract and every dollar the gold market moves credits/debits 100 $ per contract per 1USD move in the gold price from/to your account balance. Let's say your account balance is 50 k and you are insane then you could basically buy 15 contracts gold futures which translates to an ammount of 1.500 $ per 1USD move in the gold price. So from 1310 to 1340 calculates 30 points multiplied by 1,500 $, an increase of 45,000 $ and all it takes is around 50 k in the account to open a position of such size. Anyway Woodoo-Alex did not make that trade, just blah blah. Link to comment Share on other sites More sharing options...
HelloAgainItsME Posted February 3, 2011 Share Posted February 3, 2011 Thanks for that PCA. I have heard of future contracts but never really understood them. They always seem to come with a 'high risk' warning. If I understood correctly what you say then the stake money can be lost just as fast as profits can be made if you guess the market the wrong way. I hoped that Alex has some less risky technique that might help me make a few dollars more. Nevermind. Back to selling noodles on the beach for me.:jap: Link to comment Share on other sites More sharing options...
flying Posted February 3, 2011 Share Posted February 3, 2011 (edited) Odd spike in both at same time today USD Gold Edited February 3, 2011 by flying Link to comment Share on other sites More sharing options...
Naam Posted February 3, 2011 Share Posted February 3, 2011 Odd spike in both at same time today Egyp[shi]t news. Link to comment Share on other sites More sharing options...
churchill Posted February 4, 2011 Author Share Posted February 4, 2011 No Headhunter buying - They have a way of picking bottoms Link to comment Share on other sites More sharing options...
flying Posted February 4, 2011 Share Posted February 4, 2011 I did not expect it to pop back above 1345 till late February Well....Lets see if it holds Link to comment Share on other sites More sharing options...
badge Posted February 4, 2011 Share Posted February 4, 2011 Incidentally Alex, for fun I ran the recent data on Gold through my model and it had 1310 and then likely around 1300 as Buy signals. I realise you suggest youve closed out already, but was it too obvious to be of great significance? "The obvious is obviously wrong" - Joe Granville Dear Badge, obviously your model was wrong as we never hit the 1300. Did you buy at 1310? Gold will go sideways for a while but we can still make money on the fluctuations between 1320 and 1350 in the coming weeks. I dont trade Gold Alex, as I wrote, I only looked for fun, after the low was already in. My model shows the next Buy/Sell signal for the current trend. 1310 was the Buy on Spot Gold, which reversed up from a low of 1308. I surmised the next Buy signal would be 1300. In any case, if we're being binary and pedantic(a sure sign you dont trade financial markets often?), if my 1300 signal was 'wrong', your 1325 was more wrong. Good luck with the fluctuations. Link to comment Share on other sites More sharing options...
badge Posted February 4, 2011 Share Posted February 4, 2011 Odd spike in both at same time today USD Gold Gold spike occured over 2 hours; DXY 'spiked' over 8 hours. Most distance was covered in Gold around 5pm GMT, whilst in DXY around 1.30pm GMT on US figs. Link to comment Share on other sites More sharing options...
flying Posted February 4, 2011 Share Posted February 4, 2011 Gold Daily Silver Weekly Charts - Panic Hits the Money Printers As Benny Signals QE -> infinitum It will be interesting to see how the Non Farm Payrolls report comes out tomorrow.I am starting to feel a little more comfortable with this chart formation, but follow through is confirmation. 1375 is a key overhead resistance. Don't expect Benny and the Banks to roll over too easily. One of the Federales put out a Buiter-like commentary Is Gold Money?. No, it is not legal tender these days, but it is an almost universally recognized store of value now as it has been for about the last 6,000 years. Sometimes enlightened, well-disciplined regimes have sanctioned it as official 'money.' But certainly not those inward looking bureacracies who could not find with both hands the bubble(s) they have recklessly created out of you know where. This sort of rhetoric is sometimes an indicator that the Fed is getting nervous because the Asian and Latin American puppies are not eating their latest brand of ersatz puppy chow, preferring red meat to waste paper. I do not support the gold standard for the US because the system is too weak and corrupt to bear it at this time. As long as gold and silver trade freely those who have a mind to it can use it to protect themselves against devaluation if they wish. But if one is on some standard, it forces you to be more transparent and overtly devalue your currency, should you wish to do things like bail out your friends on Wall Street. Electronic digits on the other hand are much more amenable to a bureaucracy which prefers to conduct its business using opaque financial transactions in a self-serving manner, lacking in sufficient independent oversight. Oh I see where Benny came out today and signalled QE to the limit, and gold and silver spiked higher. Now it all seems more clear to me. A nice fade. Thanks. And let's hope Ron Paul gets that audit soon. Link to comment Share on other sites More sharing options...
trajan Posted February 4, 2011 Share Posted February 4, 2011 Newmont Mining (world's 2nd largest mining company) expecting US$1500 gold....acquires Frontier Mining for C$2.3 billion Link to comment Share on other sites More sharing options...
Raptor7 Posted February 4, 2011 Share Posted February 4, 2011 have six gold coins for sale at spot gold price 50 Peso Mexican Centennial --Winged Victory or Goddess Nike--coins (1944 or 1947) 37.5 grams (1.20565 troy oz) of pure gold in each coin.... [total 7.2339 troy oz of gold for all six coins] http://www.usagold.c...mexican-50.html (background details on 50 peso coins) contact Dao:080-555-0351 (English or Thai) or email <[email protected]> Link to comment Share on other sites More sharing options...
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