Where Is Gold Going In This Market

[farang000999]

yeah that guys job is to get people to buy gold though so he is bullish no matter what imho.

[midas]

yeah that guys job is to get people to buy gold though so he is bullish no matter what imho.

yes of course because there is a war going on. but this statement resonates with me

" I can assure you that the vast majority of people won’t be there because they can’t stand this kind of counter-intuitive action and wild volatility. They want to keep the vast majority of the public away (from gold & silver)"

[farang000999]

well i think the big fear is that Europe might go the deflationary path instead of the inflationary path which could be disastrous for gold. for one thing, assuming war does not break out, it sets up the model for american public to demand the same thing in the future as opposed to benny dropping money from planes.

see, this whole thing to me is really just the deflation vs inflation path.... historically inflation path almost always happens. but who knows. let's hear it Naam what is going to happen with Greece?

[Naam]

let's hear it Naam what is going to happen with Greece?

hear ye, hear ye... Naam has no freaking idea what is going to happen with the feta cheese and olive producing southern Ouzo drunkards

the EU has one big self-inflicted problem. it is ridiculous that even an insignificant pygmy nation has the power to veto and block overwhelming majority decisions because all decisions have to be unanimous. German Chancellor Angie Merkel might be presently the most powerful politician within the EU. but even she can't pee against the wind (which is anyway a problem for a lady).

[letitbe]

Rather exciting isn't it?

the only thing exciting is that i can't make up my mind whether to buy back my paper gold. my mind "swings" every few minutes back and forth between "buy back!" and "hold your horses!"

actually i had my most fun for a long time today im a small player but it gave me the oppertunity to do something and not just pathetically sitting on my hands. Its just money assets. If you cant take 20-30% gains or losses without loosing sleep or entering a state of bliss you should not be playing game. Just IMO. I shall now take this oppertunity to swap one asset for another. Im only sure of one thing its better than cash money or crappy US bonds paying 1.8%.

do you consider an investment of 350 ounces of gold -value exceeding 500,000 Dollars- "playing a game"? i don't!

if you have 50 million us $ yes if like me you only have about 1.5 million $ the odd 150,000 $ is fun or hedging ones bets a bit no different than shares going up or down 20-30% or property but so far property has been a upward one way bet for last 40 years with odd 20-30% corrections in UK in early 70's and early 90's and IMO have not yet suffered the inevitable falls like in USA or Ireland and Rest but will over next 10 years im certain. Ive certainly had 20%++ ups and downs on stocks and consider myself very lucky to given routs of 2008 and recently be just about even on that asset. Gold silver I started buying when gold was 800$ and again luckily it gold would need to go down to around 1000 or so for a loss. Its all a game and IMO provided your very well diversified over many asset classes and in several countries then long term youll be fine although I expect next 10 years+ to be very very difficult for shares and Property. Property gives us a decent income stream and has done for 40 years and were not to bothered about price only income. Shares we dont rely on income from and happy to hold for 20 years but do periodically adjust the mix. coca Cola national grid and rest are almost certainly going to be around for next 20-50 years at least and while dividend might go down or be none since we dont rely on any income from them we just ride out any storms. Gold silver is a hedge and some insurance in case financial meltdown does come and I think will prove a good investment for a long time although once world gets more stable we will sell. If it half's or even goes down further it will probably never be more than 10-20% of our assets so can be a game and fun.

Ill leave those who trade to worry about ups and downs and continue slowly adding to our 10% or around 150,000 us $ worth unless something comes along as to good to miss in property scene and then we sell a bit to buy back later when taking profit form property.

[farang000999]

out of paper positions at 1650

[Naam]

do you consider an investment of 350 ounces of gold -value exceeding 500,000 Dollars- "playing a game"? i don't!

if you have 50 million us $ yes...

guess what... i am one of the unfortunates who does not own 50mm US-Dollars

[Naam]

some anal-gold-yada-yada-yakity-yak for those who are interested:

[gregb]

some anal-gold-yada-yada-yakity-yak for those who are interested:

So do I understand you agree with the chart? Support has been hit and it is sideways or up from here?

The big question right now is whether this is actually over or we are setting up for a dead cat bounce that will go lower. My gut says the correction is done, but I'd feel alot better if it went down and hit $1400 or so where it was at the beginning of the year. Honestly, a 35% year for gold was a bit ridiculous. The global industrial economy has a long way to fall before those kinds of numbers will be realistic. It had to be speculation that was driving it rather than any fundamentals, but now I am a bit disturbed that the speculators aren't over driving it in the other direction.

As someone here correctly pointed out (don't remember who it was or I'd give you credit for your prescience), when someone like my wife decides she wants to play with leverage, that is a strong indicator that a top is forming. We never did do it by the way. I was too afraid this was going to happen...

Now though, I'd like to pick up another 10 baht with the money I didn't lose. The question is where the bottom lies.

[farang000999]

i bet many people are playing with leverage at 1600.

[Naam]

Naam, Yesterday, 10:09 , said:

some anal-gold-yada-yada-yakity-yak for those who are interested:

So do I understand you agree with the chart? Support has been hit and it is sideways or up from here?

what part of my comment "anal-yada-yada" is misleading or can be misinterpreted? i don't agree with any forecasts if they pertain to the future! if some chartist knew exactly when and where gold or any asset is going he'd keep it "cosmic top secret" (NATO military expression) and go long or short (after poking his nose or whatever orifice) according to the lines he draws with his ruler.

support, bearish harami, Fibonacci cluster, home fried sideways potatoes, stochastics, Bollinger band, outside reversal, medium-rare doji, pizza quattro stagioni, Elliott wave (sorry LBR!), head&shoulder shampoo, Hindenburg omen, crispy pork roast, moving average, McClellan oscillator, sushi, candlestick... = my àrse!

in my opinion all prophets, anals and forecasters are nothing but snake oil sellers and bullshitters. that's what i am telling one of my best friends who is a top anal in a multinational bank straight in his face. by the way, he never takes it badly but just grins and asks me what year the Port is i am serving.

[edgarfriendly]

he never takes it badly but just grins and asks me what year the Port is i am serving.

Is your friend implying that everything is a lie?

i was shocked to see the drop this morning, and the jump back up BEFORE trading opened, quite annoyed actually cos i would have loved to get that 23xxx action

Seacon Square Update - only 500 customers are guaranteed to be served daily.

500 tickets available. Good Luck Getting one!! No ticket = u can try ur luck at 7-8pm when the chinese squatters have all gone wherever they go after spending the WHOLE DAY squatting outside the store.

Chinatown update - Hua Seng Heng, (same as seacon) same deal...!! almost impossible to get in the door etc

3 elephants next door, like a ghost town.

Same with most of the other goldsmiths/shops.

ef

[pregyrick]

My opinion that GOLD or GLD will head down and I am watching the support at $152 for GLD. If this price breaks down I will be more bearish to this since long term chart is in OVERBOUGHT TERRITORY.

[midas]

My opinion that GOLD or GLD will head down and I am watching the support at $152 for GLD. If this price breaks down I will be more bearish to this since long term chart is in OVERBOUGHT TERRITORY.

at $152 there wouldn't be much more for the price to break down and I think it would be cause for jumping off a building to some?

[flying]

My opinion that GOLD or GLD will head down and I am watching the support at $152 for GLD. If this price breaks down I will be more bearish to this since long term chart is in OVERBOUGHT TERRITORY.

at $152 there wouldn't be much more for the price to break down and I think it would be cause for jumping off a building to some?

He is talking about a gold ETF midas

Personally I am not into such but I think it

only achieved $180 per share this year

[midas]

My opinion that GOLD or GLD will head down and I am watching the support at $152 for GLD. If this price breaks down I will be more bearish to this since long term chart is in OVERBOUGHT TERRITORY.

at $152 there wouldn't be much more for the price to break down and I think it would be cause for jumping off a building to some?

He is talking about a gold ETF midas

Personally I am not into such but I think it

only achieved $180 per share this year

oh no wonder I'm not in touch with that.......... more paper

[Chivas]

Naam, Yesterday, 10:09 , said:

some anal-gold-yada-yada-yakity-yak for those who are interested:

So do I understand you agree with the chart? Support has been hit and it is sideways or up from here?

what part of my comment "anal-yada-yada" is misleading or can be misinterpreted? i don't agree with any forecasts if they pertain to the future! if some chartist knew exactly when and where gold or any asset is going he'd keep it "cosmic top secret" (NATO military expression) and go long or short (after poking his nose or whatever orifice) according to the lines he draws with his ruler.

support, bearish harami, Fibonacci cluster, home fried sideways potatoes, stochastics, Bollinger band, outside reversal, medium-rare doji, pizza quattro stagioni, Elliott wave (sorry LBR!), head&shoulder shampoo, Hindenburg omen, crispy pork roast, moving average, McClellan oscillator, sushi, candlestick... = my àrse!

in my opinion all prophets, anals and forecasters are nothing but snake oil sellers and bullshitters. that's what i am telling one of my best friends who is a top anal in a multinational bank straight in his face. by the way, he never takes it badly but just grins and asks me what year the Port is i am serving.

I rarely read this thread as rarely trade Gold but on this occasion I had to ask myself without Googling what exactly "Anal-gold-yada-yada-yakity-yak" was meant to mean !!

After googling was no clearer !!

[Paulo1]

Gold (spot) is testing support al target of $1600 , Candle tail low (1532.72)indicates buying support, failure look to $1500. The primary trend up and, gold is experiencing a strong correction , however the trend is up and long positions should be sort. Maximum low I suspect around 1488. Not saying it will go there, just looking at the technicals.

Edited September 29, 2011 by Paulo1

[Naam]

i apologised to LRB but forgot to add Chivas and Paulo which i do now :jap: :jap:

[Naam]

he never takes it badly but just grins and asks me what year the Port is i am serving.

Is your friend implying that everything is a lie?

of course not Edgar, but he is well aware of the limitations of technical analysis and chart voodoo. actually it does not matter how one earns money and makes a living. whether it's reading chicken entrails, tea leaves or balance sheets. both can be misleading and of course lead to success.

[lannarebirth]

Naam, Yesterday, 10:09 , said:

some anal-gold-yada-yada-yakity-yak for those who are interested:

So do I understand you agree with the chart? Support has been hit and it is sideways or up from here?

what part of my comment "anal-yada-yada" is misleading or can be misinterpreted? i don't agree with any forecasts if they pertain to the future! if some chartist knew exactly when and where gold or any asset is going he'd keep it "cosmic top secret" (NATO military expression) and go long or short (after poking his nose or whatever orifice) according to the lines he draws with his ruler.

support, bearish harami, Fibonacci cluster, home fried sideways potatoes, stochastics, Bollinger band, outside reversal, medium-rare doji, pizza quattro stagioni, Elliott wave (sorry LBR!), head&shoulder shampoo, Hindenburg omen, crispy pork roast, moving average, McClellan oscillator, sushi, candlestick... = my àrse!

in my opinion all prophets, anals and forecasters are nothing but snake oil sellers and bullshitters. that's what i am telling one of my best friends who is a top anal in a multinational bank straight in his face. by the way, he never takes it badly but just grins and asks me what year the Port is i am serving.

No wonder my ears were burning. Thank Christ you didn't denigrate the Coppock Curve. Sure, it can be a year or two or three late, but it's always right.

Edited September 29, 2011 by lannarebirth

[letitbe]

do you consider an investment of 350 ounces of gold -value exceeding 500,000 Dollars- "playing a game"? i don't!

if you have 50 million us $ yes...

guess what... i am one of the unfortunates who does not own 50mm US-Dollars

join the club as i said gold silver is insurance not investment gold is a useless lump of rock but if their is a total financial meltdown then youll be happy you have some if it crashes medium term (1-5 years) it can only be IMO because world has found a way to solve its massive debt problem and then ill be happy insurance policy did not need to pay off. Ill leave trading to those with better nerves than me and increase my PM % up to 25% as and when things get worse. Bought another pidly 10 onz today.

[PCA]

join the club as i said gold silver is insurance not investment gold is a useless lump of rock but if their is a total financial meltdown then youll be happy you have some if it crashes medium term (1-5 years) it can only be IMO because world has found a way to solve its massive debt problem and then ill be happy insurance policy did not need to pay off. Ill leave trading to those with better nerves than me and increase my PM % up to 25% as and when things get worse. Bought another pidly 10 onz today.

I think you should give up on this thought better sooner than later. Silver is an industrial metal and nothing more. It should be somewhere between 10 and 15 and soon enough will be.

Gold I reckon will shake out the weak boys and you probably can assume who those are beside yourself. 1500 as a bottom picking trendline and buying into it is a very big trap. 1000 is another story if we go there before year end but as I said in this case all of you will not discuss in this thread anymore.

[farang000999]

have to love Timmy in EU trying to convince them that he knows the best play.

[Naam]

No wonder my ears were burning. Thank Christ you didn't denigrate the Coppock Curve. Sure, it can be a year or two or three late, but it's always right.

i respect the Coppock Curve LRB and always drive through it very carefully to avoid an accident

[midas]

one of these soon to be on every street corner in China

Gold ATM vending unveiled in China

http://www.presstv.ir/detail/201283.html

[midas]

i am selling because gold isnt backed by ANYTHING......... while the US dollar is backed by the FED !!!!

http://www.youtube.com/watch?v=aWyrjwXoIqA&feature=player_embedded

[mjnaus]

i am selling because gold isnt backed by ANYTHING......... while the US dollar is backed by the FED !!!!

http://www.youtube.c...player_embedded

And yet is has lost over 90% of it's purchasing power over the last decade...

[flying]

i am selling because gold isnt backed by ANYTHING......... while the US dollar is backed by the FED !!!!

Ignorance can be a scary thing....Not as scary as the creation of the FED but still scary

[cloudhopper]

This is interesting -

http://seekingalpha.com/article/296124-seems-like-mexico-purchased-110-tons-of-gold-that-don-t-exist?source=yahoo