Where Is Gold Going In This Market

[flying]

Nice little bump in gold today....drop in dollar

Wonder how much of it is due to Obama's State Of The Union speech

In any case....not complaining

[Naam]

if it stays above 1650 I think there is a fair chance it will break through 1700 running upwards and maybe touching 1900 before a significant dip which has got to happen at some stage

a weakening Dollar caused the recent $50/ounce rise. another two cents weakening vs. EUR, GBP, CAD, AUD or SGD and we'll see the 1,700 - whether this is significant for a further rise is highly unlikely.

your view is a dip to sub 1600 within next few months? I ask as I have just sold a condo and looking where to put proceeds

i don't have any stubborn view, neither on Gold nor on currencies. too many imponderables that could affect price and rates. my forecast "another Dollar weakening = Gold above 1,700" was just a logical conclusion which happened yesterday.

for those of us who don't live in a dollar-pegged area it is important to see the price of Gold in relation with Dollar vs. other major currencies exchange rates.

p.s. i wonder what happened to our learned friend "Fritter" who forecasted some months ago the fall of gold and AUD, a magical rise of the USD and "put his money where his mouth was".

[flying]

p.s. i wonder what happened to our learned friend "Fritter" who forecasted some months ago the fall of gold and AUD, a magical rise of the USD and "put his money where his mouth was".

I don't know but he has nothing on Vegas Vic.....Remember him? From the 1st page of this thread

Yes, there should be strong support in the $640-$670 level, once that level falls then a good "buy spot" for gold would be in the upper $300's (wait for about $365-$370 if possible). Then hold on tight to that gold and wait for about ten years and the next great gold run should begin

Edited January 26, 2012 by flying

[edgarfriendly]

Hey Flying,

Isnt it about option expiry time again?

That calendar u linked last year was pretty useful.

Im expecting a drop now CNY is sort of over... but only a slight /temp drop

ef

[flying]

Hey Flying,

Isnt it about option expiry time again?

That calendar u linked last year was pretty useful.

Im expecting a drop now CNY is sort of over... but only a slight /temp drop

ef

Should be ef as we always see the same scenario manipulated over & over in that segment of paper gold.

I imagine for those who play the day markets they could gain a bit both ways if they were so inclined.

I saw this today as a possible explanation of today's rise....

http://jessescrossro...-charts_25.html

But again for those of us who are longer term in our outlooks it is all just noise for now.

Although as I said a few posts back I always like when I see gold basing for awhile as it did

in that 1600 range.

But long term the reasons for gold....for myself...remain intact

Edited January 26, 2012 by flying

[udonguy]

Hey Flying,

Isnt it about option expiry time again?

That calendar u linked last year was pretty useful.

Im expecting a drop now CNY is sort of over... but only a slight /temp drop

ef

you're expecting a drop to what? it's bumped nicely to 1700 and I was thinking (so probably I'm wrong) that it might go quite a bit further to 1800/1900 (over next 3/6 months) then drop but who knows - I have got to decide whether to put in my proceeds from a condo sale or sell what I have and buy in again on a dip

[flying]

you're expecting a drop to what? it's bumped nicely to 1700 and I was thinking (so probably I'm wrong) that it might go quite a bit further to 1800/1900 (over next 3/6 months) then drop but who knows - I have got to decide whether to put in my proceeds from a condo sale or sell what I have and buy in again on a dip

ef is talking about the monthly options expiration dates at the COMEX

It has been a long standing tradition for metals to get beat down a bit the day before

But if your looking long term do not be worried about these smaller dips/blips

Have a premise for why your buying & buy when you can...when the type your looking for is available...or on the dips etc. till your satisfied with your position.

DYODD this is not a recommendation for anything...as always have your own premise for why your buying etc.

Edited January 26, 2012 by flying

[churchill]

Bernanke at the press conference when asked whether he was worried about pensioners getting returns with interest rates so low ..said that he had thought about it, but pensioners and pension funds should not be investing in cash but assets which in this climate would offer better returns ..

and so What about Apple with their mountains of cash ?

Should Apple Buy Gold?

http://finance.yahoo.com/news/Should-Apple-Buy-Gold-wscheats-1573770206.html?x=0

[udonguy]

you're expecting a drop to what? it's bumped nicely to 1700 and I was thinking (so probably I'm wrong) that it might go quite a bit further to 1800/1900 (over next 3/6 months) then drop but who knows - I have got to decide whether to put in my proceeds from a condo sale or sell what I have and buy in again on a dip

ef is talking about the monthly options expiration dates at the COMEX

It has been a long standing tradition for metals to get beat down a bit the day before

But if your looking long term do not be worried about these smaller dips/blips

Have a premise for why your buying & buy when you can...when the type your looking for is available...or on the dips etc. till your satisfied with your position.

DYODD this is not a recommendation for anything...as always have your own premise for why your buying etc.

yes I know but have to make a decision it has to correct at some stage and like everyone I'd rather jump in then UNLESS the train is leaving the station never to come back

[flying]

yes I know but have to make a decision it has to correct at some stage and like everyone I'd rather jump in then UNLESS the train is leaving the station never to come back

As I said base it on *your* premise for buying in the first place

secondly a lot of folks who say they are sure they are buying wait & wait & wait....for what?

Unless your buying over 100 ounces ( 200 baht ) then really the blips are not going to be big enough to justify

whether or not you can get what you want.

If a decent dip came as usual there is not always the form you want in the stores.

Since you said you sold a condo I am assuming it is not chains your buying.

If so perhaps you can buy in stages.....No need to make one purchase....You can also buy 5x on dips etc.

Again it depends on your premise & why/what your buying.

If anyone here could tell you with any certainty what the price will be...we would all be rich.....

Look at the first page of this thread....

I was asking as I was about to buy a decent amount at $700/oz

A guy kept telling me wait for 400 etc....If I did I would be kicking myself today yes?

My premise has always been long & based on what I see here in the US + other personal reasons

You should have a premise of why your buying...even to the point of when your selling/exit strategy

Just IMO & again not a recommendation to buy or not

Edited January 26, 2012 by flying

[udonguy]

yes I know but have to make a decision it has to correct at some stage and like everyone I'd rather jump in then UNLESS the train is leaving the station never to come back

As I said base it on *your* premise for buying in the first place

secondly a lot of folks who say they are sure they are buying wait & wait & wait....for what?

Unless your buying over 100 ounces ( 200 baht ) then really the blips are not going to be big enough to justify

whether or not you can get what you want.

If a decent dip came as usual there is not always the form you want in the stores.

Since you said you sold a condo I am assuming it is not chains your buying.

If so perhaps you can buy in stages.....No need to make one purchase....You can also buy 5x on dips etc.

Again it depends on your premise & why/what your buying.

If anyone here could tell you with any certainty what the price will be...we would all be rich.....

Look at the first page of this thread....

I was asking as I was about to buy a decent amount at $700/oz

A guy kept telling me wait for 400 etc....If I did I would be kicking myself today yes?

My premise has always been long & based on what I see here in the US + other personal reasons

You should have a premise of why your buying...even to the point of when your selling/exit strategy

Just IMO & again not a recommendation to buy or not

well i have 100 baht and debating to buy another OR sell what i have and take a profit and buy 200 on a dip - decisions, decisions

edit: referring to bars of course not chains

Edited January 26, 2012 by udonguy

[flying]

well i have 100 baht and debating to buy another OR sell what i have and take a profit and buy 200 on a dip - decisions, decisions

edit: referring to bars of course not chains

I see....

I know a lot of folks do well with the in & out if supply is there when they want in.

Although most in/out folks deal in paper gold so a click of the mouse is all it takes.

Chok Dee

[udonguy]

well i have 100 baht and debating to buy another OR sell what i have and take a profit and buy 200 on a dip - decisions, decisions

edit: referring to bars of course not chains

I see....

I know a lot of folks do well with the in & out if supply is there when they want in.

Although most in/out folks deal in paper gold so a click of the mouse is all it takes.

Chok Dee

yes but my money is IN Thailand so can't see how I can do paper trading in Gold here - I do it 'Thai style' and just go and buy the bars with baht

[flying]

yes but my money is IN Thailand so can't see how I can do paper trading in Gold here - I do it 'Thai style' and just go and buy the bars with baht

Hey I hate paper myself

[udonguy]

yes but my money is IN Thailand so can't see how I can do paper trading in Gold here - I do it 'Thai style' and just go and buy the bars with baht

Hey I hate paper myself

a farang friend of mine insists on ETFs and also is convinced he can go get the bars if he wants - i'm just not so sure if everything goes down the toilet (which I think is likely) I believe it's better to be able to get the physical from the bank - but I may be wrong and overly paranoid (who said that?)

[edgarfriendly]

If possible could you link the new exp date calender?

Thx!!

i was surprised at the jump this mornin, and reckon its time for me to take some profit... briefly.

ef

[Naam]

reckon its time for me to take some profit...

gold in dollar terms up this week 2.1%, dollar down 2.3% - where's the beef profit?

Edited January 26, 2012 by Naam

[udonguy]

reckon its time for me to take some profit...

gold in dollar terms up this week 2.1%, dollar down 2.3% - where's the beef profit?

surely that's irrelevant if you don't care what the dollar does? I have a friend who constantly quotes a foreign currency yet will never go back and never transfer back into that currency so all we have to worry about is THB surely/

[edgarfriendly]

reckon its time for me to take some profit...

gold in dollar terms up this week 2.1%, dollar down 2.3% - where's the beef profit?

the profit as i see it comes (potentially) from 2 places;

1. the difference in price paid for and price sold for.

2. the difference between the price recently sold for and the lower price to be bought at after my expected dip/drop soon ish.

but i might be making it all up...

ef

[flying]

If possible could you link the new exp date calender?

Thx!!

i was surprised at the jump this mornin, and reckon its time for me to take some profit... briefly.

ef

Actually it is the morning of the 26th here in the US

I am surprised but we are up so far & today would be the usual day to get hit as expiration is tomorrow

Maybe this month they have their hands full with bugger fish to fry?

Anyway here is a link for dates

http://futures.tradi..._171725270.html

Or a pdf if you like

797E3FA0d01.pdf

[Naam]

reckon its time for me to take some profit...

gold in dollar terms up this week 2.1%, dollar down 2.3% - where's the beef profit?

surely that's irrelevant if you don't care what the dollar does? I have a friend who constantly quotes a foreign currency yet will never go back and never transfer back into that currency so all we have to worry about is THB surely/

indeed, THB is for those of us who live in Thailand important. but the level of importance depends what percentage of our investment is used to cover our THB expenses. somebody who uses only a rather small amount of his income for living expenses and is diversified with assets denominated in different currencies will naturally watch the movements of these currencies irrespective how they are faring vs. THB but important how they are faring among each other and base his future decisions on it.

[Naam]

reckon its time for me to take some profit...

gold in dollar terms up this week 2.1%, dollar down 2.3% - where's the beef profit?

the profit as i see it comes (potentially) from 2 places;

1. the difference in price paid for and price sold for.

2. the difference between the price recently sold for and the lower price to be bought at after my expected dip/drop soon ish.

but i might be making it all up...

ef

i wouldn't have mentioned anything but you seem to have based your decision on the "jump this morning"

i was surprised at the jump this mornin, and reckon its time for me to take some profit

[flying]

Not to mention it is a bit of a wash if the dollars buying power went down more than gold went up.....

If your using the dollars buying power that is

[udonguy]

reckon its time for me to take some profit...

gold in dollar terms up this week 2.1%, dollar down 2.3% - where's the beef profit?

surely that's irrelevant if you don't care what the dollar does? I have a friend who constantly quotes a foreign currency yet will never go back and never transfer back into that currency so all we have to worry about is THB surely/

indeed, THB is for those of us who live in Thailand important. but the level of importance depends what percentage of our investment is used to cover our THB expenses. somebody who uses only a rather small amount of his income for living expenses and is diversified with assets denominated in different currencies will naturally watch the movements of these currencies irrespective how they are faring vs. THB but important how they are faring among each other and base his future decisions on it.

yes - this farang friend always says how 'well' he's done because he bought property at 72 baht for 1 GBP but I keep arguing it's irrelevant if he (as he insists) will never 're-patriate' his money - it's academic! as this is a Thai forum, for me, I only care about the dollar or any other currency if it effects my income (which is from Thai baht through rental income). I do have around 50% of my assets in UK as rental income which I do not use here in Thailand but through ATMs when travelling.

Personally I'm reducing my property holdings here and converting into Gold as I have reservations about what will happen here once 'something' happens and Gold is the safest (unless anyone can tell me different) hedge.

[Naam]

Personally I'm reducing my property holdings here and converting into Gold as I have reservations about what will happen here once 'something' happens and Gold is the safest (unless anyone can tell me different) hedge.

there's nothing wrong with your intention except the claim "Gold is safest" for which you have no proof. i'm not saying your expectations are wrong and neither can i recommend an alternative to hedge your net worth or income.

[udonguy]

Personally I'm reducing my property holdings here and converting into Gold as I have reservations about what will happen here once 'something' happens and Gold is the safest (unless anyone can tell me different) hedge.

there's nothing wrong with your intention except the claim "Gold is safest" for which you have no proof. i'm not saying your expectations are wrong and neither can i recommend an alternative to hedge your net worth or income.

no I know - therein lies the rub

[edgarfriendly]

Thx Fly,

For me its like a game, how can i get my expenses paid for?

buying / selling at the right moments can cover me for months at a time with 'generated from nothing' income.

Right now im aching to buy more, but think the time is about right for a little drop, as i said im surprised (ish) with the continued climb.

Yesterday in chinatown there was a lot of action in most goldstores, but seems there was more buying than selling...right b4 options expiry date...

etc

krub

[falkan]

its going good now, maby its goes up to 27000 in a month or two

[flying]

Bangkok's Counterfeit Gold Production Den Raided

Be Careful out there

[udonguy]

Thx Fly,

For me its like a game, how can i get my expenses paid for?

buying / selling at the right moments can cover me for months at a time with 'generated from nothing' income.

Right now im aching to buy more, but think the time is about right for a little drop, as i said im surprised (ish) with the continued climb.

Yesterday in chinatown there was a lot of action in most goldstores, but seems there was more buying than selling...right b4 options expiry date...

etc

krub

I've been itching to sell some of my holding (some of which is profit and some loss) but also looking to buy at lower price when correction comes