Where Is Gold Going In This Market

[midas]

bullish for gold

http://www.youtube.com/watch?feature=player_embedded&v=OS-PmhhxPG4

[edgarfriendly]

That pdf u linked is for 2011, and the link has expired or something...

i did get the page up the day u poted it but didnt save it..

[flying]

That pdf u linked is for 2011, and the link has expired or something...

i did get the page up the day u poted it but didnt save it..

Whoops sorry about that

Jesse's is good too

http://jessescrossro...lendar-for.html

Same as here

http://www.news.tradingcharts.com/futures/6/5/172436156.html

Edited January 29, 2012 by flying

[udonguy]

well - gulp - I just got out hoping there's a dip so i can come back in

[churchill]

well - gulp - I just got out hoping there's a dip so i can come back in

So how much will you profit if you buy again at 1700 or if you time it right perhaps 1650 .. but how much will you lose if it goes to 1800 or higher

seems it is in an uptrend about to go through 1750 and then ? better to sit tight until conditions change imo

[churchill]

FYI

Gold Challenges Resistance at $1,750/oz – Technicals and Fundamentals Remain Very Positive

http://www.goldcore.com/goldcore_blog/gold-challenges-resistance-1750oz-–-technicals-and-fundamentals-remain-very-positive

[udonguy]

well... who knows? I've probably got it wrong but I felt there could be a correction at some stage and I averaged it out and made a profit as I bought some at 23+ and some at 26+ and wanted to kill my current loss at the top end

[churchill]

'well... who knows? ' exactly .. but this chap seems to have pretty sensible buy and sell points if you want to trade and has updates every 3/4 days ..

http://www.321gold.com/editorials/thomson_s/thomson_s_013112.html

[udonguy]

'well... who knows? ' exactly .. but this chap seems to have pretty sensible buy and sell points if you want to trade and has updates every 3/4 days ..

http://www.321gold.c...n_s_013112.html

i have no idea! I just wanted to reduce my risk - I actually believe in it long term but it WILL correct

[BEENTHEREDONETHAT]

Interesting article on US confidence in the FED and the Govt'

http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm?iid=GM

NEW YORK (CNNMoney) -- A growing number of states are seeking shiny new currencies made of silver and gold.

Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option.Just three years ago, only three states had similar proposals in place.

[flying]

are seeking approval from their state governments to either issue their own alternative currency or explore it as an option

It is a good idea & one that could get traction.

Many are not for trashing the USD & replacing it but.....Instead allow competing/alternatives....Let the people decide

[BEENTHEREDONETHAT]

are seeking approval from their state governments to either issue their own alternative currency or explore it as an option

It is a good idea & one that could get traction.

Many are not for trashing the USD & replacing it but.....Instead allow competing/alternatives....Let the people decide

I don't really know the answer to how to best handle it. I do know that I enjoy the time we spend in the US each year and look forward to it. We have even considered moving back full time but when we look at the state of the econmy and the way the country is being run, we feel it would be a mistake. It certainly isn't being run "for the people".

Consequently we don't keep anymore USD than necessary in the US just enough to keep our townhouse going, and to cover our 4 or 5 months there. It seems crazy that the govt' feel you can spend your way out of debt. Someday and somehow that debt has to be paid or the dollar will be relegated to toilet paper. I feel for our children, grandchildren and great grandchildren, they are the ones getting screwed by the mismanagement.

Pardon my rant.

[flying]

I don't really know the answer to how to best handle it. I do know that I enjoy the time we spend in the US each year and look forward to it. We have even considered moving back full time but when we look at the state of the econmy and the way the country is being run, we feel it would be a mistake. It certainly isn't being run "for the people".

Consequently we don't keep anymore USD than necessary in the US just enough to keep our townhouse going, and to cover our 4 or 5 months there. It seems crazy that the govt' feel you can spend your way out of debt. Someday and somehow that debt has to be paid or the dollar will be relegated to toilet paper. I feel for our children, grandchildren and great grandchildren, they are the ones getting screwed by the mismanagement.

Pardon my rant.

I agree & live the opposite life of you....meaning I live in LOS a few months a year & the US the rest.

But seeing what we are we have decided we will now reverse it. We plan to leave the US this year to live full time in Thailand.

This will not end well for the US & as you said, the government of the people is no longer run by the people for the people.

I feel the same as you regarding our children & that was the hardest thing in trying to decide.

Edited February 3, 2012 by flying

[BEENTHEREDONETHAT]

I don't really know the answer to how to best handle it. I do know that I enjoy the time we spend in the US each year and look forward to it. We have even considered moving back full time but when we look at the state of the econmy and the way the country is being run, we feel it would be a mistake. It certainly isn't being run "for the people".

Consequently we don't keep anymore USD than necessary in the US just enough to keep our townhouse going, and to cover our 4 or 5 months there. It seems crazy that the govt' feel you can spend your way out of debt. Someday and somehow that debt has to be paid or the dollar will be relegated to toilet paper. I feel for our children, grandchildren and great grandchildren, they are the ones getting screwed by the mismanagement.

Pardon my rant.

I agree & live the opposite life of you....meaning I live in LOS a few months a year & the US the rest.

But seeing what we are we have decided we will now reverse it. We plan to leave the US this year to live full time in Thailand.

This will not end well for the US & as you said, the government of the people is no longer run by the people for the people.

I feel the same as you regarding our children & that was the hardest thing in trying to decide.

Flying

I think you are making a good move. We live in Cha Am in a beach front condo we quite enjoy.Still pretty laid back but growing rapidly. So if you are considering where to be give it a look.

BT

[flying]

Flying

I think you are making a good move. We live in Cha Am in a beach front condo we quite enjoy.Still pretty laid back but growing rapidly. So if you are considering where to be give it a look.

BT

Thanks BT it was not an easy decision to come to but looking at things here I think it is time.

We already own a condo in Chiang Mai & a house in the country 6hrs away that we built for my wife's parents where we can also stay

as we built it with that possibility in mind.

But I have seen pics of Cha Am & maybe your house? I am not sure but possibly in the real estate section.

Cha Am is a Very beautiful area!

Thanks

Edited February 4, 2012 by flying

[binjalin]

Well down almost 2% wondering if there is more correction to come before a surge later next week

[12DrinkMore]

Who is buying gold in China?

http://www.forbes.co...tities-of-gold/

This month, the Hong Kong Census and Statistics Department reportedthat China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best indication of China’s gold imports.

Analysts believe China bought as much as 490 tons of gold in 2011, double the estimated 245 tons in 2010. “The thing that’s caught people’s minds is the massive increase in Chinese buying,” remarked Ross Norman of Sharps Pixley, a London gold brokerage, this month.

Edited February 4, 2012 by 12DrinkMore

[Naam]

Chinese asset values have not yet crashed across the board, but the buying of gold—a leading indicator of panic—is an especially troubling sign that they will. Therefore, it is not surprising that gold purchases by Chinese citizens and investors are frightening Beijing’s technocrats. At the end of last month, they shut all of the countries gold exchanges other than two of them in Shanghai.

but some dreamers keep on spreading the fairy tale that China is urging its citizens to invest in Gold.

disclaimer: i bought twice 20 ounces each last week and beat the Mrs who bought "only" 20 ounces.

[udonguy]

any views on dip continuing into next week?

[Naam]

any views on dip continuing into next week?

we could try

[monty1412]

June/ July 2011 Gold dropped from 1550 to 1490 very quickly the rose to 1900 in August

Oct 2011 gold, went from 1670 to 1610 then rose very quickly to 1800 in Early Nov

End jan 2012 Gold went from 1610 to 1540 then rallied on up to 1750/60.

Of course this is no proof and the one certainty in investing is uncertainty itself but I take some degree of confidence in fact that before every big rally upwards gold takes a downward hit very quickly of 50-60 point and then generally rebound 150+ points within a month

We have seen it break through resistance of 1747 last week....

Still hanging on my options with strike of mid 1600's .. we shall see.

[udonguy]

June/ July 2011 Gold dropped from 1550 to 1490 very quickly the rose to 1900 in August

Oct 2011 gold, went from 1670 to 1610 then rose very quickly to 1800 in Early Nov

End jan 2012 Gold went from 1610 to 1540 then rallied on up to 1750/60.

Of course this is no proof and the one certainty in investing is uncertainty itself but I take some degree of confidence in fact that before every big rally upwards gold takes a downward hit very quickly of 50-60 point and then generally rebound 150+ points within a month

We have seen it break through resistance of 1747 last week....

Still hanging on my options with strike of mid 1600's .. we shall see.

the dip seems lower and lower each time? which may make this dip only 100?

[churchill]

any views on dip continuing into next week?

we could try

Noting this ... http://globalmarketw...-ind-3feb12.png

and looking at the situation in Europe and with Bernanke telling us cheap money is guaranteed and with Bill Gross looking to gold ... http://www.pimco.com...roposition.aspx ..

and This from quite a good forecaster -

'

Now going forward for 2012:

I see 3 scenarios for gold and silver, two bullish, one bearish.

The bullish scenarios both suggest that the bottom is in, higher highs are ahead, GSR topped out and heading toward 16 as my previous chart indicated:

1) Super-bull: Up with little pull back, small corrections less than 3% blowing right past 1920 to challenge 2000 in just a few weeks. Then one 5-8% pullback before charging on to 2400+

I give this super-bull move a 35% probability.

2) Moderate bull, more consolidation, up and sideways. More chop up and more time sideways into the latter part of 2012 (Aug-Oct). Looking for a challenge of 1900 in gold and 48ish silver before June, but no sooner than mid-march. Could see 2 to 3 pullbacks of 5-8% before a new all time high above 1920 is established. I think a mid-term higher-low would be finished in the Aug-Oct time frame, from which a very strong impulse higher will erupt for the remainder of 2012, likely making the 2000 level a speed bump on the way to 2400+. Silver in tandem with gold, should find a final higher low in Aug-Oct then impulse higher than $50 for the rest of 2012, on it's way to 95 to 135. Again I want to reiterate, I think chances are very good that once 50 silver is broken the price of Silver may never visit sub-50 again. 2012 could possibly be the last chance to buy physical silver under $50 an ounce.

I give this moderate bull move a 55% probability.

3) Bearish capitulation. If gold drops like a rock, impulsively below 1615, then something is likely wrong with my anticipated uptrend. Such a move would suggest the rise from 1522 till now was just a sucker rally. Bulls would prefer to see only a 3 wave choppy dip that remains above 1615. Downward thrust in such a bearish case could easily probe 1310 to 1430 gold, silver could touch 22ish.

I give this bearish move a 10% probability at this time.

Please remember, I'm just some nameless, faceless, internet personality, Do Your Own Due Diligence.'

from https://www.kitcomm....41880&page=1855

AND

Bank of England to print further £50 billion

http://www.telegraph...50-billion.html

forgetting demand from emerging markets and pension funds

and the little matter of Greece ...

and Iran ..

and and and ...........

I would bet up rather than down over the next 6 months ..

Edited February 5, 2012 by churchill

[cloudhopper]

disclaimer: i bought twice 20 ounces each last week and beat the Mrs who bought "only" 20 ounces.

Now there's a good leading indicator IMO!

[churchill]

Gold Forecast for the Week of February 6, 2012, Technical Analysis

http://www.fxempire.com/technical/technical-analysis-reports/gold-forecast-for-the-week-of-february-6-2012-technical-analysis/

[udonguy]

super posts! just let the dip hold (selfishly) so I can jump back in the pond and enjoy the ride

[flying]

The bullish scenarios both suggest that the bottom is in, higher highs are ahead, GSR topped out and heading toward 16 as my previous chart

I have kicked myself repeatedly for missing that 60/1 on the recent last go round because I agree with this

[Naam]

disclaimer: i bought twice 20 ounces each last week and beat the Mrs who bought "only" 20 ounces.

Now there's a good leading indicator IMO!

i don't think 'indicator' applies. whenever we bought/buy physical it's not done because of dips but for other specific reasons which (i assume) are irrelevant for those who participate in this thread.

[udonguy]

well I jumped back in as the dip isn't holding - got 40kg silver too

[cloudhopper]

got 40kg silver too

Hope they had shopping carts!