Where Is Gold Going In This Market

[binjalin]

I'm 'out' if it spikes 1720 ish then back again in 6 months

So you're now 'out' yes?

Gold are going down for sure. Normally when the stock market is down, the gold price is going up. But not now. I know from gold mining here in Thailand. They said that next 12 month they need minimum 0.8 to 1 gram / ton stone to make profit. ½ a year ago they forecast only 0.4 gram/ton.

This manly due to that China don’t by the same amount anymore

Really?

guess my hopes that jobs numbers would print good were not fulfilled... gold going up up up.... 1730 now.

1738 - 25,400 - 25,500 Its held up over the weekend, lets see how the goldshop loiterers do with their recurring scheme to sell it down so they can buy back in again the same day...

'ish' just waiting this week to see how the news flows... but almost certainly I'll sell this week - thanks for your concern

[binjalin]

up again today, maybe next month we see thai gold at ฿2700 then time to sell

If gold goes to ฿2700 then a large number of people will be feeling very ill indeed.

why? ฿2600 before this month end is my guess..

what??? based on what? it can hardly hold 1730 ish and you think a rise of 800? why?

[binjalin]

I'm 'out' if it spikes 1720 ish then back again in 6 months

So you're now 'out' yes?

Gold are going down for sure. Normally when the stock market is down, the gold price is going up. But not now. I know from gold mining here in Thailand. They said that next 12 month they need minimum 0.8 to 1 gram / ton stone to make profit. ½ a year ago they forecast only 0.4 gram/ton.

This manly due to that China don’t by the same amount anymore

Really?

guess my hopes that jobs numbers would print good were not fulfilled... gold going up up up.... 1730 now.

1738 - 25,400 - 25,500 Its held up over the weekend, lets see how the goldshop loiterers do with their recurring scheme to sell it down so they can buy back in again the same day...

shows what you know - the price 'held up' the price never changes over the weekend dude

[mania]

why? ฿2600 before this month end is my guess..

what??? based on what? it can hardly hold 1730 ish and you think a rise of 800? why?

That is a Thai Baht sign in front of the 2600 not a dollar sign

So he probably left a 0 off & meant 26,000 THB per baht of gold.

[midas]

I knew it wouldn't be long before the contrarians came out

CPM Group’s Jeffrey Christian was back on BNN today, claiming that there is zero chance the Fed will announce further ‘real’ easing until December at the earliest, that he expects gold to imminently crash to $1550.

http://maxkeiser.com/2012/09/11/jeff-christian-no-qe3-coming-gold-silver-crash-as-rally-has-been-based-speculative-fluff/

[edgarfriendly]

Dude...?

The price could easily drop on monday from a friday high could it not.....? people still buy & sell over the 'closed' days...I could show you but i prefer to not throw pearls at sweinhunts.

shows what you dont know. ....dood, ooh

Ish.

Edited September 11, 2012 by edgarfriendly

[Jayman]

Forex Flash: Gold most probably pricing in $500bn additional QE from the Fed – Standard Bank

FXstreet.com (Barcelona) - Precious metals rallied on Friday, after the release of the disappointing US NFP numbers, as the weaker-than-expected result increased the possibility of the Fed introducing the third round of QE at the upcoming meeting scheduled for September 13.

“We estimate that gold is now pricing in $500bn additional QE from the Fed,” writes Marc Ground, analyst at Standard Bank, who also suggests that “any QE less than $500bn may see gold push lower” while “more than $500bn QE could see the metal maintain its current upward momentum.”

“Gold support is at $1,702 and $1,669. Resistance is $1,755 and $1,775.”

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=19f620af-f22b-4e22-a486-b3a6f63e2545

[binjalin]

Dude...?

The price could easily drop on monday from a friday high could it not.....? people still buy & sell over the 'closed' days...I could show you but i prefer to not throw pearls at sweinhunts.

shows what you dont know. ....dood, ooh

Ish.

wrong again - I buy and sell physical - yes it can be done (for Gold only) on Saturdays but the price is Mon-Fri's and you were intimating otherwise and suggesting a rise to 2,600US unless you got that wrong too? you meant a rise of 100 baht? 3US? for 1 baht of Gold? go think again dude

Edited September 12, 2012 by binjalin

[edgarfriendly]

Dude...?

The price could easily drop on monday from a friday high could it not.....? people still buy & sell over the 'closed' days...I could show you but i prefer to not throw pearls at sweinhunts.

shows what you dont know. ....dood, ooh

Ish.

wrong again - I buy and sell physical - yes it can be done (for Gold only) on Saturdays but the price is Mon-Fri's and you were intimating otherwise and suggesting a rise to 2,600US unless you got that wrong too? you meant a rise of 100 baht? 3US? for 1 baht of Gold? go think again dude

<deleted>...Try reading what i wrote & not mixing it up with something someone else did.

Only then should you continue to jump to conclusions and cast your crude aspersions.

just to conclude, if satudays and sundays trades were significant enough would the price on monday morning be the same as it was on the close of friday evening...?

its not really a rhetorical question, but you may treat it as such if you wish.

[Naam]

i was told that big Asian traders look at Gold traded during the weekend in the Gulf and adjust their prices if different from friday close. have no idea whether this information is correct.

[Jayman]

All eyes on the release of the FOMC statement at 1430EDT (2330 here). That will determine if gold heads up to 1800 or down to 1700 or lower.

More than any other asset that might be on a retail trading platform, gold will be straight-forward today. QE3 and it will race toward $1790. No QE3 and it will fall at least $50 and probably back to $1640 in the coming days.

[farang000999]

love u ben,

[yoshiwara]

Dude...?

The price could easily drop on monday from a friday high could it not.....? people still buy & sell over the 'closed' days...I could show you but i prefer to not throw pearls at sweinhunts.

shows what you dont know. ....dood, ooh

Ish.

wrong again - I buy and sell physical - yes it can be done (for Gold only) on Saturdays but the price is Mon-Fri's and you were intimating otherwise and suggesting a rise to 2,600US unless you got that wrong too? you meant a rise of 100 baht? 3US? for 1 baht of Gold? go think again dude

<deleted>...Try reading what i wrote & not mixing it up with something someone else did.

Only then should you continue to jump to conclusions and cast your crude aspersions.

just to conclude, if satudays and sundays trades were significant enough would the price on monday morning be the same as it was on the close of friday evening...?

its not really a rhetorical question, but you may treat it as such if you wish.

The price on Monday morning is not the price of Friday's close, but that does not mean the price has changed over the weekend as the markets are closed.

The same thing re market closing on Monday afternoon and reopening Tuesday morning. The market price is closed between those 2 events. There may be some trading trading in between but these are not market prices.

Exception 1: currency trading does not stop Monday to Friday, but does close Friday (US) and reopens Monday (NZ/Aus)

Note 1: Some stocks eg Rio Tinto listed on Australia/FTSE/NYSE but when the price is moving on the eg Aus markets this does not change the previous market close on either the FTSE or the NYSE. It may influence their opening, but that does not mean that their previous market close price has changed.

Note 2: market gold price not different. The market quoted price does not change on Sundays. The market is closed. This of course does not stop you buying something in a shop. What price they want to quote you is up to them.

[crusader79]

September 11th, eleven years on....

Edited September 14, 2012 by crusader79

[binjalin]

Dude...?

The price could easily drop on monday from a friday high could it not.....? people still buy & sell over the 'closed' days...I could show you but i prefer to not throw pearls at sweinhunts.

shows what you dont know. ....dood, ooh

Ish.

wrong again - I buy and sell physical - yes it can be done (for Gold only) on Saturdays but the price is Mon-Fri's and you were intimating otherwise and suggesting a rise to 2,600US unless you got that wrong too? you meant a rise of 100 baht? 3US? for 1 baht of Gold? go think again dude

<deleted>...Try reading what i wrote & not mixing it up with something someone else did.

Only then should you continue to jump to conclusions and cast your crude aspersions.

just to conclude, if satudays and sundays trades were significant enough would the price on monday morning be the same as it was on the close of friday evening...?

its not really a rhetorical question, but you may treat it as such if you wish.

we are in Thailand (at least I am) and we are discussing buying and selling HERE which cannot be done w/e's - got it? which means (drum roll) that if you sell or buy on Sat the price is the same as Fri's

[binjalin]

Dude...?

The price could easily drop on monday from a friday high could it not.....? people still buy & sell over the 'closed' days...I could show you but i prefer to not throw pearls at sweinhunts.

shows what you dont know. ....dood, ooh

Ish.

wrong again - I buy and sell physical - yes it can be done (for Gold only) on Saturdays but the price is Mon-Fri's and you were intimating otherwise and suggesting a rise to 2,600US unless you got that wrong too? you meant a rise of 100 baht? 3US? for 1 baht of Gold? go think again dude

<deleted>...Try reading what i wrote & not mixing it up with something someone else did.

Only then should you continue to jump to conclusions and cast your crude aspersions.

just to conclude, if satudays and sundays trades were significant enough would the price on monday morning be the same as it was on the close of friday evening...?

its not really a rhetorical question, but you may treat it as such if you wish.

The price on Monday morning is not the price of Friday's close, but that does not mean the price has changed over the weekend as the markets are closed.

The same thing re market closing on Monday afternoon and reopening Tuesday morning. The market price is closed between those 2 events. There may be some trading trading in between but these are not market prices.

Exception 1: currency trading does not stop Monday to Friday, but does close Friday (US) and reopens Monday (NZ/Aus)

Note 1: Some stocks eg Rio Tinto listed on Australia/FTSE/NYSE but when the price is moving on the eg Aus markets this does not change the previous market close on either the FTSE or the NYSE. It may influence their opening, but that does not mean that their previous market close price has changed.

Note 2: market gold price not different. The market quoted price does not change on Sundays. The market is closed. This of course does not stop you buying something in a shop. What price they want to quote you is up to them.

obviously and here, in Thailand, the price on Sat is always the closing price on Friday. That has been my experience of buying and selling PM's over last couple of years and that is what we are discussing - of course the price they set on Monday is not the closing on Friday and I think we all get that - well most of us

[cloudhopper]

I just love the heft of kilo bars in the morning.

[Asiantravel]

I just love the heft of kilo bars in the morning.

I remember reading a long time ago you thought that gold was going to be subject to

deflationary pressures. Do you still hold the same view?

[cloudhopper]

I just love the heft of kilo bars in the morning.

I remember reading a long time ago you thought that gold was going to be subject to

deflationary pressures. Do you still hold the same view?

Gold will be subject to whatever happens but yes I think there is a deflationary burst underway and IMO the gold price over the medium term is a reflection of the risks associated with the way the central banks are attempting to reflate it. IMO we have already seen the inflationary episode due to riotous credit creation which served in the economy precisely the same as money printing might have done. The reason it's different this time is that the CBs can only create money but cannot get that money into the economy, helicopter drops notwithstanding, and there is no more capacity to service new debt. Gold (metal not infinitely rehypothecated electromagnetic bits) will hold its global purchasing power well IMO regardless of whether the politicians are able to interrupt the inevitable deflationary bust with a final hyperinflationary blowoff/currency crisis or not.

Edited September 14, 2012 by cloudhopper

[edgarfriendly]

As i stated, the price on monday is not always the same as the price on friday...

Therefore....cnutroll.....the price may well hold its position, or it may rise OR fall FROM friday TO monday. AS I Said...

anything else is fluff & nonsense.

Nobody has attempted to suggest the SATURDAY price is any different to Fridays or even Sundays.

Im glad you have found some support in your guesswork.

And you're not out after you said you would be....

Waffle much?

[Asiantravel]

I just love the heft of kilo bars in the morning.

I remember reading a long time ago you thought that gold was going to be subject to

deflationary pressures. Do you still hold the same view?

Gold will be subject to whatever happens but yes I think there is a deflationary burst underway and IMO the gold price over the medium term is a reflection of the risks associated with the way the central banks are attempting to reflate it. IMO we have already seen the inflationary episode due to riotous credit creation which served in the economy precisely the same as money printing might have done. The reason it's different this time is that the CBs can only create money but cannot get that money into the economy, helicopter drops notwithstanding, and there is no more capacity to service new debt. Gold (metal not infinitely rehypothecated electromagnetic bits) will hold its global purchasing power well IMO regardless of whether the politicians are able to interrupt the inevitable deflationary bust with a final hyperinflationary blowoff/currency crisis or not.

I just read this article which reminded me about your response above

http://www.ftense.com/2012/09/the-dark-side-of-qe-next-chapter-in-our.html

[falkan]

Gold hits six-month high on QE3 from U.S. Fed

Gold rose sharply yesterday by 2% to hit six-month high of US$1770 (฿25,800 per baht).

The gold became bullish after the U.S. Federal Reserve announced quantitative easing (QE3) saying it would

buy $40 billion of mortgage-backed debt each month until the U.S. jobs improved its outlook, as long as

inflation remained contained

Buy: ฿25750

Sell: ฿25850

Last Update: 2012-09-14 09:26

Price Change: +450

i told you guys =)

[cloudhopper]

I just read this article which reminded me about your response above

http://www.ftense.co...ter-in-our.html

I don't know why IMO that article is flawed. This guy is saying QE gets into the economy but in fact it mostly goes right back to the CBs as excess reserves or "assets". What did get into the economy to bid up the prices of everything was the was credit "not backed by anything" created to the tune of 25X what the central banks ever printed to possibly service it along with all its associated derivatives in the shadow economy. Now that the ability to service all that debt hits max saturation so further credit creation is impossible, cash to bid up prices will not materialize unless politicians inject much much more into the economy and IMO they will be unable to do so. In that case cash will be hoarded and get sucked out of the economy as it attempts to service debt many times its size, employment opportunities continue to decline and physical cash will be as useful as physical gold.

[yoshiwara]

I just love the heft of kilo bars in the morning.

I remember reading a long time ago you thought that gold was going to be subject to

deflationary pressures. Do you still hold the same view?

Gold will be subject to whatever happens but yes I think there is a deflationary burst underway and IMO the gold price over the medium term is a reflection of the risks associated with the way the central banks are attempting to reflate it. IMO we have already seen the inflationary episode due to riotous credit creation which served in the economy precisely the same as money printing might have done. The reason it's different this time is that the CBs can only create money but cannot get that money into the economy, helicopter drops notwithstanding, and there is no more capacity to service new debt. Gold (metal not infinitely rehypothecated electromagnetic bits) will hold its global purchasing power well IMO regardless of whether the politicians are able to interrupt the inevitable deflationary bust with a final hyperinflationary blowoff/currency crisis or not.

In principle this is true. However though the CBs cannot force the money into the economy and yes there is a reluctance currently to take on new debt, the Fed can attempt to create the environment in order to influence economic direction. Unfortunately monetary policy can only do so much. Fiscal policy is the missing player and it is the fiscal uncertainty in the US which hobbles the Fed's initiatives. Gold is still lower than it was one year ago.

[Asiantravel]

I just love the heft of kilo bars in the morning.

I remember reading a long time ago you thought that gold was going to be subject to

deflationary pressures. Do you still hold the same view?

Gold will be subject to whatever happens but yes I think there is a deflationary burst underway and IMO the gold price over the medium term is a reflection of the risks associated with the way the central banks are attempting to reflate it. IMO we have already seen the inflationary episode due to riotous credit creation which served in the economy precisely the same as money printing might have done. The reason it's different this time is that the CBs can only create money but cannot get that money into the economy, helicopter drops notwithstanding, and there is no more capacity to service new debt. Gold (metal not infinitely rehypothecated electromagnetic bits) will hold its global purchasing power well IMO regardless of whether the politicians are able to interrupt the inevitable deflationary bust with a final hyperinflationary blowoff/currency crisis or not.

In principle this is true. However though the CBs cannot force the money into the economy and yes there is a reluctance currently to take on new debt, the Fed can attempt to create the environment in order to influence economic direction. Unfortunately monetary policy can only do so much. Fiscal policy is the missing player and it is the fiscal uncertainty in the US which hobbles the Fed's initiatives. Gold is still lower than it was one year ago.

that depends on the currency you are talking about

http://www.businessinsider.com/gold-in-euros-touches-new-record-high-at-eur-136023-per-ounce-2012-9

[yoshiwara]

that depends on the currency you are talking about

http://www.businessi...er-ounce-2012-9

$, it is priced in $US. The other currencies are valued against the $US. Start from there.

[Naam]

that depends on the currency you are talking about

http://www.businessi...er-ounce-2012-9

$, it is priced in $US. The other currencies are valued against the $US. Start from there.

Asiantravel has a valid point because he judges a situation from his individual p€rsp€ctiv€. he doesn't care what the price of gold is in USD, Angolan Kwanza, goats or Cowrie shells. to each his own

[binjalin]

Gold hits six-month high on QE3 from U.S. Fed

Gold rose sharply yesterday by 2% to hit six-month high of US$1770 (฿25,800 per baht).

The gold became bullish after the U.S. Federal Reserve announced quantitative easing (QE3) saying it would

buy $40 billion of mortgage-backed debt each month until the U.S. jobs improved its outlook, as long as

inflation remained contained

Buy: ฿25750

Sell: ฿25850

Last Update: 2012-09-14 09:26

Price Change: +450

i told you guys =)

yup and I got out

[falkan]

Gold hits six-month high on QE3 from U.S. Fed

Gold rose sharply yesterday by 2% to hit six-month high of US$1770 (฿25,800 per baht).

The gold became bullish after the U.S. Federal Reserve announced quantitative easing (QE3) saying it would

buy $40 billion of mortgage-backed debt each month until the U.S. jobs improved its outlook, as long as

inflation remained contained

Buy: ฿25750

Sell: ฿25850

Last Update: 2012-09-14 09:26

Price Change: +450

i told you guys =)

yup and I got out

me to, saturday morning! give it 2-3 months and we back in again..

[binjalin]

Gold hits six-month high on QE3 from U.S. Fed

Gold rose sharply yesterday by 2% to hit six-month high of US$1770 (฿25,800 per baht).

The gold became bullish after the U.S. Federal Reserve announced quantitative easing (QE3) saying it would

buy $40 billion of mortgage-backed debt each month until the U.S. jobs improved its outlook, as long as

inflation remained contained

Buy: ฿25750

Sell: ฿25850

Last Update: 2012-09-14 09:26

Price Change: +450

i told you guys =)

yup and I got out

me to, saturday morning! give it 2-3 months and we back in again..

exactly

sold my silver too - not sure I'd go back into silver though as it was a hairy ride!!!