Where Is Gold Going In This Market

[churchill]

Turkey's gold imports soared in January

'Turkey's gold imports soared in January as investors banked on prices exceeding last month's record highs, seeking alternative investments following a surprise central bank cut interest rate cuts.

"Demand for gold coins is rising, after the central bank cut rates, old habits are coming back," said Mehmet Ali Yildirimturk, a gold trader at the Grand Bazaar in Istanbul, the oldest centre for gold trade in Turkey. Imports jumped to 11.12 tonnes in January, from just 60 kilos in January 2010, the Istanbul Gold Exchange said on Thursday.

Turkey is the third-largest consumer of gold globally. The metal is traditionally given at weddings and circumcision ceremonies, and demand for imports tends to be strongest during summer months.

But January's imports were equivalent to more than a quarter of the total for all of last year'

http://www.balkans.com/open-news.php?uniquenumber=92324

[churchill]

' Imports jumped to 11.12 tonnes in January, from just 60 kilos in January 2010, '

Looks like quite a healthy % increase !? - Naam you like crunching figures /

Anyone seen any Central Banks or countries announcing Gold Sales ??

[AlexLah]

Hi HelloAgainItsME,

If you are new into trading it helps starting a demo account.

Have a strategy, stick to it and see if it works, then start with a live account.

I for example use fxyard, (http://www.forexyard.com/) I have to admit they are a bit slow with paying out the profits but in the end they will.

For example today I used half of my profit from previous gain and opened a new account with just 10K USD.

Betting on Gold turned out well but on EURUSD I lost a little.

Still a nice day.

[Naam]

' Imports jumped to 11.12 tonnes in January, from just 60 kilos in January 2010, '

Looks like quite a healthy % increase !? - Naam you like crunching figures /

Anyone seen any Central Banks or countries announcing Gold Sales ??

when the increase is that high i don't trust the journàsslist who typed the figures.

[crusader79]

QE1 & QE2

[churchill]

Gold Bug Alert:

Chartists infest gold market

'Psychologists have a rich seam in the overlap between gold bugs, chartists and conspiracy theorists. That overlap is causing problems right now for many hard-core gold investors. Their tendency to believe in the power of charts to predict prices – technical analysis, as its followers call it – suggests the gold price should fall.

Supposedly one of the most powerful signs that prices will fall is a “triple top”, three equal price spikes. This pattern appeared for gold last month, and was followed last week by another chartist sell signal: the 30-day moving average price dropped below the 50-day average. When this happened a year ago, gold fell $75.

The view of believers in efficient markets was neatly summed up by Burton Malkiel in A Random Walk Down Wall Street. Reading charts, he said, was no better than alchemy.

If the chartists are right, gold should go down another 3 per cent, to reach the 200-day moving average: the “support level”. If that is broken, gold can keep dropping; if it holds, then the charts will suggest the decade-long gold bull market remains in place.

The more investors believe in charts, the better they will work – hence the focus on obscure patterns in foreign exchange, where there are no short-term fundamentals. The gold market, too, is infested with chartists. They must be hoping the charts are wrong.'

http://www.ft.com/cms/s/0/fca334de-2fe5-11...l#axzz1D1cOWBM2

[churchill]

Long Bonds Break To The Downside

http://jsmineset.com/2011/02/05/long-bonds-break-to-the-downside/

David Skarica: "Bond Vigilantes" Ultimately Good for Gold

Read more: http://community.nasdaq.com/News/2011-02/david-skarica-bond-vigilantes-ultimately-good-for-gold.aspx?storyid=56381#ixzz1D4voOEpO

[churchill]

Investors ignore Egypt turmoil at their peril

http://www.ft.com/cms/s/0/4c6fae94-30cb-11e0-9de3-00144feabdc0.html#axzz1D4xvHmKn

[AlexLah]

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.

Hi Badge, you say you do not trade Gold so what are you doing here? (No pun intended).

My 1325 buy signal was not wrong as you can see from the chart as well as the 1310 I mentioned earlier (Not on the charts below).

Take care all and I wish you profitable trades!

Alex

[crusader79]

David Skarica: "Bond Vigilantes" Ultimately Good for Gold

Read more: http://community.nas...1#ixzz1D4voOEpO

Thanks, that was a very interesting and informative one.

[churchill]

Silver looking Bullish !

Near Zero Contango in COMEX Silver Futures

http://www.gotgoldreport.com/2011/02/near-zero-contango-in-comex-silver-futures.html#more

[Naam]

Silver looking Bullish ! Near Zero Contango in COMEX Silver Futures

some experienced investors do not interprete zero contango as bullish. au contraire! but then... to each his own

[churchill]

Silver looking Bullish ! Near Zero Contango in COMEX Silver Futures

some experienced investors do not interprete zero contango as bullish. au contraire! but then... to each his own

Can't say I'm an expert so bow to your wisdom - however the report says

"Full-blown backwardation has arrived in the COMEX silver futures market. Backwardation suggests that competition for whatever metal is available is heavy and most analysts consider silver backwardation to be a decidedly bullish condition.

By the way, as of Friday, there was only enough silver metal in the Registered category in COMEX depositories to accommodate 8,680 COMEX contracts (43.4 million ounces), or about 6.6% of the 130,601 contracts open as of Thursday’s tally. (Another 59 million ounces was listed as “Eligible” and some of that metal could conceivably be coaxed into the Registered category at some price. Some of the Eligible silver is likely already committed for other purposes and is merely stored in the COMEX system awaiting delivery.)

Evidence of tightness in the silver market continues to surface in other words. "

Which sounds bullish to me /

[churchill]

Following the news last year that -gold nanoparticles within the leaves of trees, causes them to give off a luminous reddish glow- which could provide a form of street lighting /

Now -

'Scientists have found that gold nanoparticles can achieve something for cancer patients that chemotherapy cannot — killing the cancer cells without harming the healthy ones. Preliminary tests have shown that an anti-cancer drug loosely attached to gold nanoparticles starts accumulating deep inside tumors within minutes of injection and can be activated for an effective treatment within two hours. '

http://www.punemirror.in/article/26/201102062011020606163956922c4e05d/Gold-makes-for-an-effective-anticancer-bomb-says-study.html

[AlexLah]

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?

Dear Naam,

I do not need to put a million USD at risk.

You as a self proclaimed investor and defender of truth should know better.

I respect the elderly such as you and will not flame you for the above statement but please inform yourself before doing so.

Kind regards,

Alex

[lannarebirth]

Silver looking Bullish ! Near Zero Contango in COMEX Silver Futures

some experienced investors do not interprete zero contango as bullish. au contraire! but then... to each his own

Can't say I'm an expert so bow to your wisdom - however the report says

"Full-blown backwardation has arrived in the COMEX silver futures market. Backwardation suggests that competition for whatever metal is available is heavy and most analysts consider silver backwardation to be a decidedly bullish condition.

By the way, as of Friday, there was only enough silver metal in the Registered category in COMEX depositories to accommodate 8,680 COMEX contracts (43.4 million ounces), or about 6.6% of the 130,601 contracts open as of Thursday's tally. (Another 59 million ounces was listed as "Eligible" and some of that metal could conceivably be coaxed into the Registered category at some price. Some of the Eligible silver is likely already committed for other purposes and is merely stored in the COMEX system awaiting delivery.)

Evidence of tightness in the silver market continues to surface in other words. "

Which sounds bullish to me /

If one substituted the word "silver" for "oil" that article looks almost identical to one I read a few years back just a few months before Oil plunged from $148/bbl to $35/bbl. It had a nice spike up though before that plunge so there's that to consider.

[Naam]

Dear Naam,

I do not need to put a million USD at risk.

You as a self proclaimed investor and defender of truth should know better.

I respect the elderly such as you and will not flame you for the above statement but please inform yourself before doing so.

Kind regards,

Alex

your

usual

spacings

between

lines

does

not

make

the

25,000 dollar

statement

more

credible.

[badge]

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.

Hi Badge, you say you do not trade Gold so what are you doing here? (No pun intended).

My 1325 buy signal was not wrong as you can see from the chart as well as the 1310 I mentioned earlier (Not on the charts below).

Take care all and I wish you profitable trades!

Alex

Ive traded it once or twice in my years, but not at all often. It can be a beautiful market to trade.

Nothing more than passing interest brings me here really Alex. Where in Thailand are you based?

I was interested in Japan in the 80's, dot-com co's in the 90's, real estate in the 00's and commods thesedays. I still only trade a same few markets/products however.

GL

[Naam]

GST free storage of physical gold in Singapore

http://www.swisspreciousmetals.com/

[churchill]

Interesting site for those wanting live prices and charts

http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx

[AlexLah]

Alex

Ive traded it once or twice in my years, but not at all often. It can be a beautiful market to trade.

Nothing more than passing interest brings me here really Alex. Where in Thailand are you based?

I was interested in Japan in the 80's, dot-com co's in the 90's, real estate in the 00's and commods thesedays. I still only trade a same few markets/products however.

GL

Hi Badge,

Based in BKK for the last 9 years and previously all over the world.

And yes you were correct, I do not trade/gamble often and just started some time ago and I was amazed how easy it (apparently) is to make money if you make the correct choices.

Combined with the insane leverage they allow you, I was just asking myself how they could do/allow this (the brokers).

Maybe you can explain this to me.

Take Care!

Alex

[AlexLah]

Dear Naam,

I do not need to put a million USD at risk.

You as a self proclaimed investor and defender of truth should know better.

I respect the elderly such as you and will not flame you for the above statement but please inform yourself before doing so.

Kind regards,

Alex

your

usual

spacings

between

lines

does

not

make

the

25,000 dollar

statement

more

credible.

Dear Naam,

Do you still insist that I had to put down a million (or more) USD to gain a few USD?

Kind regards,

Alex

[Naam]

Do you still insist that I had to put down a million (or more) USD to gain a few USD?

you wouldn't have known if PCA had not told you. if you had known you'd have answered immediately

Edited February 8, 2011 by Naam

[badge]

Ive traded it once or twice in my years, but not at all often. It can be a beautiful market to trade.

Nothing more than passing interest brings me here really Alex. Where in Thailand are you based?

I was interested in Japan in the 80's, dot-com co's in the 90's, real estate in the 00's and commods thesedays. I still only trade a same few markets/products however.

GL

Hi Badge,

Based in BKK for the last 9 years and previously all over the world.

And yes you were correct, I do not trade/gamble often and just started some time ago and I was amazed how easy it (apparently) is to make money if you make the correct choices.

Combined with the insane leverage they allow you, I was just asking myself how they could do/allow this (the brokers).

Maybe you can explain this to me.

Take Care!

Alex

Are you asking me a Q Alex?

If its why do brokers offer leverage on spot/cash, its because they know theres a high likelihood you(the punter) will use it(trade), and generate for them a commission. The 'leverage' is actually a pretty expensive loan. Plus, you'll likely lose, whch leads to more commission for them(trades).

[crusader79]

Excellent article exploring the main issues argued about (interminably ) on this thread:

http://www.financeandeconomics.org/Articles%20archive/2011.02.08%20Metals_technical.htm

[crusader79]

And yes you were correct, I do not trade/gamble often and just started some time ago and I was amazed how easy it (apparently) is to make money if you make the correct choices.

Combined with the insane leverage they allow you, I was just asking myself how they could do/allow this (the brokers).

Easy? Highly leveraged? Insane is exactly the right word, Alex

I'd be very careful, the vast majority of individual investors (read: nearly all) grossly overestimate their ability to time markets. In recent years the advent of high-frequency trading has stacked the odds even further against them. And in some ways early success on one or two trades is the worst thing that can happen to you.

I would rather look for medium to long term investment opportunities. That's where hopefully my (ceaseless, perhaps doomed) efforts to understand the world and its history, politics, technology, psychology, etc. may give me a small competitive advantage. Or not.

[AlexLah]

The leverage thinghy is explained on almost every broker site Naam and they do warn you that it is very risky and they do tell not to put money on the table you cannot afford to lose. I understand it is like going to a casino, when I go (like once per 5 years) I just play for fun. As the above article mentioned most people think of this game as an investor. I see it as a casino, some win, most lose. But there are people that can count cards, predict winning scratch lottery tickets, and some can roll the dice with the desired outcome they want. From GATA there is strong suspicion the Gold market is rigged. If so, there is some kind of system in place. I think I have an idea about this "system" as you can see from the "Model" I posted here a few times. (Not bragging). I tested this model for a year or more and could see the accuracy. Therefore I decided to throw in a bit of money and so far it turned out right. My strategy is very simple. I just use about half of the profit I made to get back on the table, and use half of that to bet.

Crusader, I have tried the long term (safe)investment strategy and it gave me a 3% (Total 10 years)return and my money was managed by self proclaimed financial investment experts working for the big names and promising me an 8% annual return when I signed the agreement (Just do not read the fine print).

Buy the dip!

Cheers all!

Alex

[jcon]

I go away for a bit and I come back to find that Alex went from tinfoil nerd to BSD Trader. lulz.

I also see that zorro and midas are still going at it. zzz

Further, I see that we haven't made much ground in any of these (once quite entertaining) threads. "Why then don't you contribute something, jcon?" I will if I can come up with an interesting financial thread - right now I can't seem to beat the "150 Baht ATM Withdrawals" thread.

[churchill]

part of a very interesting series

Gold and fiat currencies

http://www.atimes.com/atimes/Global_Economy/MB11Dj02.html

[AlexLah]

I go away for a bit and I come back to find that Alex went from tinfoil nerd to BSD Trader. lulz.

I also see that zorro and midas are still going at it. zzz

Further, I see that we haven't made much ground in any of these (once quite entertaining) threads. "Why then don't you contribute something, jcon?" I will if I can come up with an interesting financial thread - right now I can't seem to beat the "150 Baht ATM Withdrawals" thread.

Jcon, you are still alive!!!!

Tell us pleazzze how you have been able to survive in ?, other than begging for money on the streets, (Just kidding).

As for me acting as aa BSD trader, it is just to stir up this boring thread consisting of links to articles and other peoples opinions.

However I did make the money I said I did, heh heh, money for nothing and chicks for free!

Please tell Jcon what you have been up to, we have been missing you.

Cheers,

Alex