Where Is Gold Going In This Market

[KeyserSoze01]

Gold is up again on the speculation that the US Fed will institute another round of quantitative easing, which ain't gonna happen. I'm short GLD @ 1693.50 going into the Fed meeting on this Thursday.

[manarak]

thanks for the referral to IB. they are certainly not new to the game and have built up quite a name for themselves. of course a quick google of "scam interactivebrokers" will find many negative story and comments about them. http://www.forexpeac...tivebrokers.com

I have been a client for over ten years at IB, and only once I had a problem with an order that wasn't executed properly.

I battered their support hotline and they wouldn't yield, yet I am however convinced that the problem was technical in nature, and in the contract I signed that I bear the risk of technical failure. fair enough.

I come exactly from the same trade as IB, i.e. online brokerage, and IB even has been a client of the global derivatives broker I was working for.

IB's customer friendlyness is not the best.

Doing business is far from simple with IB, but financial markets aren't simple either.

And their paperwork is simply a nightmare. I still have a "compliance officer" person from my employer ten years ago listed on my account as a controller, but I can't remove him because something is stuck in the system using my old corporate email address to which I don't have access anymore, and IB support could do nothing about it. I also submitted a EU passport as identification, but their system lists me as Australian. This too couldn't be corrected. Whatever.

BUT: I can totally vouch for IB and say without hesitation that all the scam claims made against IB come from people that were too dumb to understand the products they traded or too thick to properly use the sophisticated (semi-professional) tools IB put at their disposal.

I remember one time at the bank when some auditors came in to check the order processes. I got a young inexperienced guy (my age then) who had done a year of auditing in retail banking, he sat on a chair near me and he was totally bewildered. First, he would twitch everytime someone would shout or toss something my way, such as execution strips, tickets or pizza slices (in their box, I'm not filthy), then he was surprised I took oral instructions from clients ("why don't they send you a signed fax to confirm the order?") and then he lost his last marbles when I typed the orders in at the same time as the clients were giving the order to me ("what, why is there no double check by another operator???"). He didn't last long.

This is to say that if one is using IB to trade, there is no safety net.

[Jayman]

Gold is up again on the speculation that the US Fed will institute another round of quantitative easing, which ain't gonna happen. I'm short GLD @ 1693.50 going into the Fed meeting on this Thursday.

N

ow this is just my opinion but I think the FED has already started the next round of QE but have yet to announce it. How else are they keeping the bind levels so dam_n low?

I'm long term gold bull (over coming years) but right now I am positioned more short than long on gold. I think we will see a move back to the 1500's before we set new highs. Of course I could be very wrong and get my ass handed to me for it.

[manarak]

Gold is up again on the speculation that the US Fed will institute another round of quantitative easing, which ain't gonna happen. I'm short GLD @ 1693.50 going into the Fed meeting on this Thursday.

QE3 or not, that is the question, at least as far as the USD is concerned.

I'm still flat and waiting.

[Jayman]

Gold is up again on the speculation that the US Fed will institute another round of quantitative easing, which ain't gonna happen. I'm short GLD @ 1693.50 going into the Fed meeting on this Thursday.

QE3 or not, that is the question, at least as far as the USD is concerned.

I'm still flat and waiting.

Oh I think QE is a firm deal. Just a matter of when they "announce" it. Of course Mr Market will take every opportunity to rally based on any supporting evidence of the next round of QE.

[edgarfriendly]

*scratchhead*

now you lost me...

That might not be too difficult.

there u go again, talking out of your arse and expecting others to understand, and mocking when they obviously mistakenly believe you to be talking non-twatishness.

i was THIS close to accusing you of being jayman, but he redeemed himself yesterday, perhaps only temporarily though...

[Jayman]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

[Naam]

notwithstanding the fact that Gold is down big compared to other investments since one year the messengers keep on presenting "X bought gold, Y bought gold, Z is buying gold, A says gold will be up big, B recommends buying gold, C claims gold will skyrocket..."

yep... in the meanwhile I just cashed in my 20k USD profit from friday - that was not too much due to an unfavorable buy price plus the USD losing slightly against CHF in my USDCHF FX hedge.

I will wait a bit before going in again, maybe at around 1670, 1660.

I've never been on the wrong side of a trade either.

i wish i had 10,000 dollars for every time i was on the wrong side of a trade during the last 35 years.

[Rancid]

I don't know but what I am reading suggests that gold may be getting ready for another move. Of course central bank manipulation and idiot announcements, let alone JP Morgan shenanigans does make for an interesting market. Still I think I'll buy up some more, as just adding to the collection. Gold/silver is a part of a portfolio not all the eggs only in that basket. Only hold physical, no paper crap.

[yoshiwara]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

As you do with Ben Bernanke.

[manarak]

I don't know but what I am reading suggests that gold may be getting ready for another move. Of course central bank manipulation and idiot announcements, let alone JP Morgan shenanigans does make for an interesting market. Still I think I'll buy up some more, as just adding to the collection. Gold/silver is a part of a portfolio not all the eggs only in that basket. Only hold physical, no paper crap.

Gold is ready to explode.

It is trading nervously just under 1700 USD.

Any of the following will make it break through the 1700 USD barrier by 50 points or so:

- QE3

- ECB begins buying bonds

- bad economic news from either US or EU

If all three things happen, gold will shoot through 2000 USD for sure.

[Jayman]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

As you do with Ben Bernanke.

Huh? As I do what with Ben Bernanke? Please make your point. I love to listen to Ben speak. I think he has a way with words. Every time he gets in front of congress I am there watching it live. He is extremely knowledgeable about economics. Are you trying to say I discount everything he says due to a perceived bias?

[yoshiwara]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

As you do with Ben Bernanke.

Huh? As I do what with Ben Bernanke? Please make your point. I love to listen to Ben speak. I think he has a way with words. Every time he gets in front of congress I am there watching it live. He is extremely knowledgeable about economics. Are you trying to say I discount everything he says due to a perceived bias?

Does the sun rise in the East?

[Jayman]

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

As you do with Ben Bernanke.

Huh? As I do what with Ben Bernanke? Please make your point. I love to listen to Ben speak. I think he has a way with words. Every time he gets in front of congress I am there watching it live. He is extremely knowledgeable about economics. Are you trying to say I discount everything he says due to a perceived bias?

Does the sun rise in the East?

Can you answer a question without another question?

[yoshiwara]

Can you answer a question without another question?

Is it not better to see yourself truly than to care how others see you?

(Master Kan)

Edited September 5, 2012 by yoshiwara

[midas]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

As you do with Ben Bernanke.

Huh? As I do what with Ben Bernanke? Please make your point. I love to listen to Ben speak. I think he has a way with words. Every time he gets in front of congress I am there watching it live. He is extremely knowledgeable about economics. Are you trying to say I discount everything he says due to a perceived bias?

you certainly drink the Kool-Aid don't you

I mean billionaire Jim Rogers called him an idiot. personally I call him a liar

actually I think he is probably both

[muchogra]

Important people I listen to are Dick, Joe, Tom, Mary, Somchai, etc. My wife is Mary.

When they say "this way" and get all hyped up thinking this is safe haven, it's time to act!

Was it not appeared a safe haven when it was in the above USD1,800 range? Many still seem obscure! We should wait?

[muchogra]

Mr. Benign(less) talks less skillfully than Mr. XXX. What's his name? He was touted high but opinions seem to have changed afterward. In any event, big boys play on these anyway, so are analysts and commentators. It's all about timing and one needs a flexible mind when trading futures. Buying for keep also require timing. Those who bought above USD1,800 have a long way to go yet before prosperity hopefully before they kick the bucket.

[Jayman]

As you do with Ben Bernanke.

Huh? As I do what with Ben Bernanke? Please make your point. I love to listen to Ben speak. I think he has a way with words. Every time he gets in front of congress I am there watching it live. He is extremely knowledgeable about economics. Are you trying to say I discount everything he says due to a perceived bias?

you certainly drink the Kool-Aid don't you

I mean billionaire Jim Rogers called him an idiot. personally I call him a liar

actually I think he is probably both

Ohh welll .. if a billionaire calls him an idiot then it must be true. Remind me to ask Thaksin his opinion next time we chat.

I never said he was honest nor forthcoming but to discount his knowledge on economics is foolish.

I also never said I believe everything he says. I was the first to come post here when he told congress he didn't think gold was money.

Bernanke achieved a SAT score of 1590 out of 1600.^[18][20] Bernanke attendedHarvard University, where he lived in Winthrop House with the future CEO of Goldman Sachs, Lloyd Blankfein, and graduated with a Bachelor of Arts in economics summa cum laude in 1975. He received the doctor of philosophy degree in economics from the Massachusetts Institute of Technology in 1979 after completing and defending his dissertation,Long-Term Commitments, Dynamic Optimization, and the Business Cycle. Bernanke's thesis adviser was the future governor of the Bank of Israel, Stanley Fischer, and his readers included Irwin S. Bernstein, Rudiger Dornbusch, and Robert Solow of MIT and Peter Diamond and Dale Jorgenson of Harvard.^[21]

If that's not an idiot than I don't know what is

Edited September 5, 2012 by Jayman

[muchogra]

It doesn't seem too good for me as of now at around 1691 when some Dick, Tom, Joe, Mary went in for the cheap! It'll persist for a while.

[muchogra]

Now I recall Mr. XXX is Mr. Green Giant himself!

[Naam]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

please read again whom i listed, what those listed might say to make me skeptical and then repeat that my bias seem quite foolish

[Jayman]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

please read again whom i listed, what those listed might say to make me skeptical and then repeat that my bias seem quite foolish

yes.. but as you previously stated you are only speaking in general. I didn't actually think your dog told you about your cat's misdoings either.

[KeyserSoze01]

I don't know but what I am reading suggests that gold may be getting ready for another move. Of course central bank manipulation and idiot announcements, let alone JP Morgan shenanigans does make for an interesting market. Still I think I'll buy up some more, as just adding to the collection. Gold/silver is a part of a portfolio not all the eggs only in that basket. Only hold physical, no paper crap.

Gold is ready to explode.

It is trading nervously just under 1700 USD.

Any of the following will make it break through the 1700 USD barrier by 50 points or so:

- QE3

- ECB begins buying bonds

- bad economic news from either US or EU

If all three things happen, gold will shoot through 2000 USD for sure.

These are the big "IFs".

Draghi can't announced bond purchases until he gets the high sign from Germany, which has not happened yet and won't by the time of the ECB meeting.

There is also a concern that the ECB has the option to sell any bonds they purchase from countries that do not fully adopt austerity plans.

The markets are jumping on the anticipation of QE3, although every analyst I've read states that it is not necessary as the banking system is awash with capital. It's demand that is down, in the US anyway. So why flood the markets with more $$$ when it is unnecessary and it has not been proven that QE1 or QE2 has had a positive effect on the US jobs market, which is the only part of the Fed's dual mandate that is applicable.

[Jayman]

The markets are jumping on the anticipation of QE3, although every analyst I've read states that it is not necessary as the banking system is awash with capital. It's demand that is down, in the US anyway. So why flood the markets with more $$$ when it is unnecessary and it has not been proven that QE1 or QE2 has had a positive effect on the US jobs market, which is the only part of the Fed's dual mandate that is applicable.

Cause Mr Market wants it and is jonesing for it's next fix

[Naam]

In other words... whatever the clowns of World Gold Council have to say with reference to Gold. a banKster telling me "let me handle your investments" a lady in a bar suggesting she would "lubb me long time if i mally her" a politician promising whatever he promises... i'd be very skeptical

Are you equally as skeptical when a doctor gives you advise on your health? The reason why these folks got to where they are is because they have an above average understanding of the subject matter. They could even be called "experts" in their fields. To discount them all based on perceived bias seems quite foolish.

please read again whom i listed, what those listed might say to make me skeptical and then repeat that my bias seem quite foolish

yes.. but as you previously stated you are only speaking in general. I didn't actually think your dog told you about your cat's misdoings either.

generalising? i mentioned specific "experts" in their field!

[midas]

claim that perhaps 60,000 tons of allocated, segregated gold have been improperly used by the cartel to settle Asian margin calls

http://www.silverdoctors.com/jim-willie-60000-metric-tons-of-allocated-gold-likely-used-by-cartel-to-settle-asian-margin-calls/

[midas]

you certainly drink the Kool-Aid don't you

I mean billionaire Jim Rogers called him an idiot. personally I call him a liar

actually I think he is probably both

Ohh welll .. if a billionaire calls him an idiot then it must be true. Remind me to ask Thaksin his opinion next time we chat.

I never said he was honest nor forthcoming but to discount his knowledge on economics is foolish.

I also never said I believe everything he says. I was the first to come post here when he told congress he didn't think gold was money.

Bernanke achieved a SAT score of 1590 out of 1600.^[18][20] Bernanke attendedHarvard University, where he lived in Winthrop House with the future CEO of Goldman Sachs, Lloyd Blankfein, and graduated with a Bachelor of Arts in economicssumma cum laude in 1975. He received the doctor of philosophy degree in economics from the Massachusetts Institute of Technology in 1979 after completing and defending his dissertation,Long-Term Commitments, Dynamic Optimization, and the Business Cycle. Bernanke's thesis adviser was the future governor of the Bank of Israel, Stanley Fischer, and his readers included Irwin S. Bernstein, Rudiger Dornbusch, and Robert Solow of MIT and Peter Diamond and Dale Jorgenson of Harvard.^[21]

If that's not an idiot than I don't know what is

that still doesn't mean he is working in the best interests of the citizens of the USA

Bernanke has lied to the American public, encouraged accounting fraud by Wall Street banks, overstepped his legal authority in purchasing toxic assets from Wall Street banks, been involved in the manipulation of LIBOR, screwed senior citizens and all savers with his zero interest rate policy, and used quantitative easing as a method enrich Wall Street at the expense of the general public that bear the heaviest burden of higher food and energy prices. The Bernanke Put is the only thing keeping a clearly overvalued stock market from crashing today. But delaying the inevitable through easy money policies will only exacerbate the pain of the ultimate crash. Bernanke is caught in a liquidity trap and his one weapon of choice is shooting blanks. Bernanke along with his banker and politician cronies have crossed the line of lawlessness in their futile efforts to retain their power and wealth. Jesse eloquently describes how a few evil men have captured our economic and political system:

http://www.theburningplatform.com/?tag=ben-bernanke

[Jayman]

you certainly drink the Kool-Aid don't you

I mean billionaire Jim Rogers called him an idiot. personally I call him a liar

actually I think he is probably both

Ohh welll .. if a billionaire calls him an idiot then it must be true. Remind me to ask Thaksin his opinion next time we chat.

I never said he was honest nor forthcoming but to discount his knowledge on economics is foolish.

I also never said I believe everything he says. I was the first to come post here when he told congress he didn't think gold was money.

If that's not an idiot than I don't know what is

that still doesn't mean he is working in the best interests of the citizens of the USA

Bernanke has lied to the American public, encouraged accounting fraud by Wall Street banks, overstepped his legal authority in purchasing toxic assets from Wall Street banks, been involved in the manipulation of LIBOR, screwed senior citizens and all savers with his zero interest rate policy, and used quantitative easing as a method enrich Wall Street at the expense of the general public that bear the heaviest burden of higher food and energy prices. The Bernanke Put is the only thing keeping a clearly overvalued stock market from crashing today. But delaying the inevitable through easy money policies will only exacerbate the pain of the ultimate crash. Bernanke is caught in a liquidity trap and his one weapon of choice is shooting blanks. Bernanke along with his banker and politician cronies have crossed the line of lawlessness in their futile efforts to retain their power and wealth. Jesse eloquently describes how a few evil men have captured our economic and political system:

http://www.theburnin...ag=ben-bernanke

I agree with that he has been dishonest but how does that equate to him being an idiot?

[midas]

Ohh welll .. if a billionaire calls him an idiot then it must be true. Remind me to ask Thaksin his opinion next time we chat.

I never said he was honest nor forthcoming but to discount his knowledge on economics is foolish.

I also never said I believe everything he says. I was the first to come post here when he told congress he didn't think gold was money.

If that's not an idiot than I don't know what is

that still doesn't mean he is working in the best interests of the citizens of the USA

Bernanke has lied to the American public, encouraged accounting fraud by Wall Street banks, overstepped his legal authority in purchasing toxic assets from Wall Street banks, been involved in the manipulation of LIBOR, screwed senior citizens and all savers with his zero interest rate policy, and used quantitative easing as a method enrich Wall Street at the expense of the general public that bear the heaviest burden of higher food and energy prices. The Bernanke Put is the only thing keeping a clearly overvalued stock market from crashing today. But delaying the inevitable through easy money policies will only exacerbate the pain of the ultimate crash. Bernanke is caught in a liquidity trap and his one weapon of choice is shooting blanks. Bernanke along with his banker and politician cronies have crossed the line of lawlessness in their futile efforts to retain their power and wealth. Jesse eloquently describes how a few evil men have captured our economic and political system:

http://www.theburnin...ag=ben-bernanke

I agree with that he has been dishonest but how does that equate to him being an idiot?

Oh come on?

With all those supposed qualifications and credentials and bearing in mind he was the person who determined the strategy and policies armed with a slew of data? He must have understood the dynamics of globalisation at a very early stage and the downward effect on wages versus the effect on housing prices from cheap and readily available finance? If he didn't then he deserves to lose all those qualifications. For him to come out and say something so naive regarding the housing bubble as “ It's a very unlikely possibility, we have never had a decline in house prices on a nationwide basis “ made him look totally dumb ( as well is a compulsive liar ) !

Edited September 6, 2012 by midas