Where Is Gold Going In This Market

[Jayman]

exactly

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

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

[yoshiwara]

exactly

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

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

That's right. Gold will down and gold coins will go up. Soooo obvious.

[Jayman]

exactly

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

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

That's right. Gold will down and gold coins will go up. Soooo obvious.

Don't be a <deleted>.. I said I think gold will go down.. that includes paper and "gold coins". Show me where I said different.

[cloudhopper]

From the paper electromagnetic bit asset files -

http://www.zerohedge.com/news/how-chinas-rehypothecated-ghost-steel-just-vaporized-and-what-means-world-economy

[churchill]

Updates from Clive Maund ..

Gold Market Update

http://www.clivemaund.com/article.php?art_id=68

Silver Market Update

http://www.clivemaund.com/article.php?art_id=67

[edgarfriendly]

I wouldn't waste your time even conversing with these twots, you may as well presume they are in fact bored and have little other than garbage to 'offer'. Much like a wino has little other than vomit to 'offer'

Trust me, you dont want to lose your cool in the morning reading all the shit posted up overnight by the drunk/lonely/destructive types.

this is the same reason why most industrialised nations spend millions removing tags & graffiti from public walls on a daily basis. (silly <deleted> woz ere & call this number for sex... etc)

Don't feed the trollops, i know its hard cos they seem in need, but they are really & merely a waste of priceless time & energy.

[Jayman]

So it looks like oil had some funky price action and that immediately spilled over into the gold market

the move is being investigated by the CFTC

http://www.reuters.com/article/2012/09/17/markets-oil-cftc-idUSL1E8KHF3T20120917?feedType=RSS&feedName=financialsSector

[PCA]

So it looks like oil had some funky price action and that immediately spilled over into the gold market

the move is being investigated by the CFTC

http://www.reuters.c...inancialsSector

it's jewish New Year Rosh Hashanah and some other markets had also extraordinary moves as there is usually not much volume and accordingly it is easy to manipulate dramatic moves. Nothing really unusual but hopefully a red mark on next years calendar for unskilled daytraders.

[yoshiwara]

I wouldn't waste your time even conversing with these twots, you may as well presume they are in fact bored and have little other than garbage to 'offer'. Much like a wino has little other than vomit to 'offer'

Trust me, you dont want to lose your cool in the morning reading all the shit posted up overnight by the drunk/lonely/destructive types.

this is the same reason why most industrialised nations spend millions removing tags & graffiti from public walls on a daily basis. (silly <deleted> woz ere & call this number for sex... etc)

Don't feed the trollops, i know its hard cos they seem in need, but they are really & merely a waste of priceless time & energy.

Talking to yourself is clearly far more productive.

[churchill]

Samsung pumps $20m into Cluff Gold

http://www.ft.com/intl/cms/s/0/64e5c056-fce6-11e1-9dd2-00144feabdc0.html#axzz26oY71vfM

Apple to copy ...

Should Apple Buy Gold?

http://wallstcheatsheet.com/gold/should-apple-buy-gold.html/

[churchill]

Gold price at record level in Burma

'Since early this year, Burma’s gold prices have been rising, setting a new record of 794,000 kyats (US$ 900) per tical over the weekend, state-run media reported on Tuesday.

The Yangon Region Gold Entrepreneurs Association said that gold prices in the country could rise to 800,000 per tical soon.'

http://www.mizzima.c...l-in-burma.html

What is a tical ?

Edited September 19, 2012 by churchill

[cloudhopper]

What is a tical ?

I don't know but I'm glad I don't have any.


Edited April 10, 2013 by Maestro
Deleted reference to a pyramid scheme

[Jayman]

What is a tical ?

I don't know but I'm glad I don't have any.

Just like Thailand has it's measure for gold (baht=15.1 grams) so do many countries around the world. Not everyone uses the troy oz as the standard.

https://en.wikipedia...easurement#Mass

1 tical = 16.32932532 grams = 0.525 troy oz

[binjalin]

exactly

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

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

nope silver beads - agree about Au

[Jayman]

exactly

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

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

nope silver beads - agree about Au

The only reason I made that comment is cause I am long term bull so I won't consider selling my physical metal on a price dip with the hopes to buy it back cheaper. With the premiums and hassle of physical metal I chose to short sell paper when I want to try and profit from a price dip.

But to each his own I say.

[binjalin]

exactly

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

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

nope silver beads - agree about Au

The only reason I made that comment is cause I am long term bull so I won't consider selling my physical metal on a price dip with the hopes to buy it back cheaper. With the premiums and hassle of physical metal I chose to short sell paper when I want to try and profit from a price dip.

But to each his own I say.

why? short trip to the shop here (who hold it for me) sell - buy - sell can't see the drama personally - it's not about 'hopes' I can buy back anytime - what 'premiums and hassle'? have I missed something (doubt it)

[Jayman]

I assume you are talking about paper silver here right?

I too think that both silver and gold are prime for a retrace. I could see gold revisiting the lower trend line in the 1630 area in the coming weeks.

nope silver beads - agree about Au

The only reason I made that comment is cause I am long term bull so I won't consider selling my physical metal on a price dip with the hopes to buy it back cheaper. With the premiums and hassle of physical metal I chose to short sell paper when I want to try and profit from a price dip.

But to each his own I say.

why? short trip to the shop here (who hold it for me) sell - buy - sell can't see the drama personally - it's not about 'hopes' I can buy back anytime - what 'premiums and hassle'? have I missed something (doubt it)

To each his own. For me to buy and sell physical silver there are premiums involved and the hassle of going back and forth from my metal storage to the store. I feel PM's will go up for the long term so I tend to only acquire them and not sell them. For me to play a hunch that gold/silver will drop in the short term I can press a few keys on my KB and sell paper, leveraged gold/silver and make way more money without any hassle of moving physical metals around. But with leverages trading there is risk that physical buys/sells don't have to deal with.

If what you are doing is working for you.. have at it. Just curious, how many Kilo bags are you buying and selling at a time?

Also, please clarify, are you doing this in Thailand? Buying silver pellets and letting the store hold them for you? What is your guarantee they are what they claim they are? Are they backed or certified by any government or mint?

Edited September 20, 2012 by Jayman

[yoshiwara]

To each his own. For me to buy and sell physical silver there are premiums involved and the hassle of going back and forth from my metal storage to the store. I feel PM's will go up for the long term so I tend to only acquire them and not sell them. For me to play a hunch that gold/silver will drop in the short term I can press a few keys on my KB and sell paper, leveraged gold/silver and make way more money without any hassle of moving physical metals around. But with leverages trading there is risk that physical buys/sells don't have to deal with.

If what you are doing is working for you.. have at it. Just curious, how many Kilo bags are you buying and selling at a time?

Also, please clarify, are you doing this in Thailand? Buying silver pellets and letting the store hold them for you? What is your guarantee they are what they claim they are? Are they backed or certified by any government or mint?

A better (unintentional) criticism of the bag of gold coins strategy will be difficult to find. No income and like a grannie storing her valuables in the cookie jar about as useful. Just saving up for a rainy day dear.

Edited September 20, 2012 by yoshiwara

[Asiantravel]

Bank of Japan, just launched QE 8. - JPY10 trillion ...the effect

of which lasted.................... less than 9 hours

[Naam]

Bank of Japan, just launched QE 8. - JPY10 trillion ...the effect

of which lasted.................... less than 9 hours

without mentioning "what" the effect was this comment might lead to wrong assumptions. for the record: Japan's "QE" weakened the ¥en and boosted the Nikkei day before yesterday only for a short time.

[Asiantravel]

Bank of Japan, just launched QE 8. - JPY10 trillion ...the effect

of which lasted.................... less than 9 hours

without mentioning "what" the effect was this comment might lead to wrong assumptions. for the record: Japan's "QE" weakened the ¥en and boosted the Nikkei day before yesterday only for a short time.

From UBS Financial Services

Japan's Eighth Version of Quantitative Easing Has Brief Influence – The Bank of Japan, which first began Quantitative Easing back in the year 2000, reached back in the closest and brought out version number eight.

It was a rather obvious attempt to weaken the yen and it achieved that goal – for about 27 minutes.

Europe and the U.S. awakened to find Asian markets rallying in response to the BOJ initiative. They decided to join the party. Before they could get fully started, the glow started to wear off.

Is there anything to suggest that any amount of QE’s in USA will have a more sustained result?

[Naam]

It was a rather obvious attempt to weaken the yen and it achieved that goal – for about 27 minutes.

i am banking since years with UBS and therefore know that some of ther "anals" need glasses fact remains it lasted for several hours.

[Asiantravel]

It was a rather obvious attempt to weaken the yen and it achieved that goal – for about 27 minutes.

i am banking since years with UBS and therefore know that some of ther "anals" need glasses fact remains it lasted for several hours.

I would call that splitting hairs

[mccw]

Yen against dollar "weakening" from QE is not much lasting since dollar has the QE to infinity policy. But look at currencies value against oil and gold , silver

[Jayman]

Try looking at gold priced in EURO. We are only like 20 euro from all time highs.

[Naam]

It was a rather obvious attempt to weaken the yen and it achieved that goal – for about 27 minutes.

i am banking since years with UBS and therefore know that some of ther "anals" need glasses fact remains it lasted for several hours.

I would call that splitting hairs

if you deal in forex denominated assets and happened to have an order pending in JP¥, value several hundred thousand dollars, you wouldn't talk about splitting hairs and neither would a professional trader in bank who's trades are each several millions

Edited September 21, 2012 by Naam

[Asiantravel]

It was a rather obvious attempt to weaken the yen and it achieved that goal – for about 27 minutes.

i am banking since years with UBS and therefore know that some of ther "anals" need glasses fact remains it lasted for several hours.

I would call that splitting hairs

if you deal in forex denominated assets and happened to have an order pending in JP¥, value several hundred thousand dollars, you wouldn't talk about splitting hairs and neither would a professional trader in bank who's trades are each several millions

Even if you are one of those traders do you know I couldn't be less interested and I don't think there would be that

many other people on this forum that would be interested within that context either.

As the world and stock market rejoices at QE3 a in USA s if just one more time will make all the

difference in the world the Japanese experience exposes just to what extent this whole exercise of

quantitative easing is a complete farce and is setting up the next generations for an

unimaginable debt burden just so people like you can continue to play the market.

Edited September 21, 2012 by Asiantravel

[Jayman]

Well.. for all you that want to maintain that gold is lower now than "name your period" you are wrong when priced in EUROS.

We are now at all time record highs.

[yoshiwara]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

[Jayman]

Try looking at gold priced in EURO.

According to this silly logic, if the price of gold goes down against the dollar but the dollar goes down even more against the Euro, then gold has gone up.

The opposite never applies. Oh no. Which is that if gold goes up against the dollar but the dollar rises even more percentage-wise against the Euro, then gold has gone down.

Gold is priced in dollars. Full stop.

Gold is priced in Baht in Thailand. Gold is priced in many currencies depending on where you buy it. You try buying gold here in USD at the gold shops and see how that goes for you. That chart doesn't lie. You can twist it however you want. Gold has reached a new all time high against the EURO. If I bought XAUEUR anytime in the past and sold it at today's peak then I made money. You think that chart is just some sort of trick to show a high gold price that doesn't exist? I bet that in europe, the gold stores sell in EURO. Or are you going to argue that as well. Pathetic. FULL STOP.