Where Is Gold Going In This Market

[Naam]

Gold getting shredded today.

who would of thought...

[jbrain]

Gold getting shredded today.

Has the price changed since last Friday then, and where can one see it before the US markets open.

I thought the price was created only on the US future markets, which only open at the end of this day.

[lannarebirth]

Gold getting shredded today.

Has the price changed since last Friday then, and where can one see it before the US markets open.

I thought the price was created only on the US future markets, which only open at the end of this day.

http://www.barchart.com/commodityfutures/Gold_Futures/GC

[Jayman]

Gold getting shredded today.

Has the price changed since last Friday then, and where can one see it before the US markets open.

I thought the price was created only on the US future markets, which only open at the end of this day.

The price is set at the LBMA 2x daily. Google "gold fixing"

If you want to see where it's set for Thauland look at

http://www.goldtraders.or.th/

they are the ones to fix the price for thailand and do so a couple times a day as well. BUT, given the holidays they are still working on the pre 1500 drop price.

Edited April 15, 2013 by Jayman

[lannarebirth]

Gold getting shredded today.

Has the price changed since last Friday then, and where can one see it before the US markets open.

I thought the price was created only on the US future markets, which only open at the end of this day.

The price is set at the LBMA 2x daily. Google "gold fixing"

If you want to see where it's set for Thauland look at

http://www.goldtraders.or.th/

they are the ones to fix the price for thailand and do so a couple times a day as well. BUT, given the holidays they are still working on the pre 1500 drop price.

Metals

GC

Gold

COMEX

5:00p.m. - 4:15p.m. (Sun-Fri) (RTH 7:20a.m. - 12:30p.m.) CST

100 troy ounces

0.10 (10 cents) per troy ounce ($10.00 per contract)

$100

Edited April 15, 2013 by lannarebirth

[jbrain]

Gold getting shredded today.

Has the price changed since last Friday then, and where can one see it before the US markets open.

I thought the price was created only on the US future markets, which only open at the end of this day.

http://www.barchart.com/commodityfutures/Gold_Futures/GC

Sorry my wrong, I thought i had seen 1449 $ as the closing price on Friday.

[Jayman]

Gold getting shredded today.

Has the price changed since last Friday then, and where can one see it before the US markets open.

I thought the price was created only on the US future markets, which only open at the end of this day.

http://www.barchart.com/commodityfutures/Gold_Futures/GC

Sorry my wrong, I thought i had seen 1449 $ as the closing price on Friday.

No but it's $1449 right now

[fletchsmile]

How the Gold Market was Crashed

" There's been a recent huge draw down of physical gold at the New York COMEX and at the JP Morgan Chase depository. Look at the physical market draw down on the charts below. It has taken a drastic plunge.

HOUSTON -- we have a problem.

Physical inventory drawdown at JPM"

http://www.safehaven.com/article/29484/how-the-gold-market-was-crashed

Way too much conspiracy theory compared to reality for me.

As for the comment:

"There are only two things that can bring gold down; a manipulated event like we just saw or a liquidity squeeze like we saw in 2008 where an immediate need for cash forced the liquidation of all assets."

here's another few to add to those 2:

- technical chartists

- continuing correction after gold's significant increase in prior years

- general increase in sentiment that things are not as bad as they were, so less need to hold gold

- equities having a good run, so the herds starting to follow equities instead of gold

Fletch

Don't forget all the paper Gold on margin that took it up. It works the same way coming down.

Yes. Agreed. And then there's also the paper gold on ETFs some leveraged (up to 3x not uncommon) some not. One reason gold rose so significantly is the advent of ETFs often backed by gold. Downtrend corrections are often much more brutal. Very US centric info too.

Fletch

Edited April 15, 2013 by fletchsmile

[OZEMADE]

These links will give you a good idea where Gold is going after today, down and out.

Billionaire loses $300 million in a day as gold plummets, 15 April.

John Paulson is the biggest loser as the precious metal falls to its lowest price in almost two years.

http://au.pfinance.yahoo.com/education/investing/article/-/16737432/billionaire-loses-300-million-in-one-day

Bloodbath as $20 billion wiped off market

Falling commodity prices and soft Chinese GDP data have hit the local market, with gold miners the worst hit.

http://au.finance.yahoo.com/news/market-bloodbath-20-billion-wiped-043514966.html

Gold going nowhere

A decade after the launch of the first gold exchange traded fund, the yellow metal is not looking like a great investment.

http://au.pfinance.yahoo.com/our-experts/michael-pascoe/article/-/16525112/gold-going-nowhere/

Live Gold Prices

http://au.finance.search.yahoo.com/r/_ylt=A2KJjb1AZmtRoQgAs4K7vIlQ/SIG=12t4bfvol/EXP=1366021824/**http%3a//au.finance.yahoo.com/news/gold-plunges-1-500-lowest-175742137.html

[fletchsmile]

midas, on 15 Apr 2013 - 09:37, said:

Meanwhile there will always be plenty of people like Datta Phuge in Bombay and Mr Lee in Shanghai who

have a keen interest in it

So the West keeps trading their paper while the two most populous nations keep accumulating the real

stuff.

So perhaps you'd like to complete the picture and add in the statistics for non-US depositories and then answer your own conspiracy theories. One of the obvious flaws was also it was only a US centric view.

As for what's real and what's not. Let's just say to me:

The 12-13% loss YTD on gold feels just as real as the 23%+ gain on some of my better performing Thai equities funds this year(eg ING Good Corp Gov)

Don't worry, I won't be deserting you completely tho' as I still see gold having an insurance value for a small portfolio weighting. The problem gold bugs are facing this year though is that what should be an "insurance" protecting wealth, is now rapidly becoming an erosion of wealth. Unfortunately some gold bugs remain stubbornly in denial gold is in a downtrend, and remain somewhat of a one trick pony. Articles like the one in the link come across more like desperation to find any reason or fact possible for a straw to clutch at.

BTW The ability to work quotes in Thai Visa has taken a very sharp turn for the worse, in the way it now handles them...

Edited April 15, 2013 by fletchsmile

[farang000999]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

[Naam]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

[midas]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

they sure are !!

The gold Bull market is dead - long live the Bull market!

Edited April 15, 2013 by midas

[doji]

I don't know but right now I'm seeing around 1380-1430 for this bottom, unless something comes up in a major way.

My bias outlook is still bearish. However there is a possibility of the mini reversal toward the end of the month or beginning of next month…..nothing for sure until the next 2 weeks.

Just my thought

haha I did warn you guys AGAIN and AGAIN (look at the date posted)

...well for those who choose to heed anyway, you should do quite ok

Edited April 15, 2013 by doji

[Khun Jean]

Well my 25US$ trigger for silver fired, so i bought some (paper silver, trades easier). About 25% of what i have allocated for silver. The rest is in real estate, gold and cash in baht.

If it goes under 20US$ i go in with the rest, otherwise i accumulate slowly while it is under 25.

I still buy gold (physical 96.5%), but only a little each month. Gold is still to high for me, 1100US$ is my trigger to start buying more.

Edited April 15, 2013 by Khun Jean

[mccw]

By a total coincidence I sold most of my gold reserves at 1650 ish. I'm stuck awaiting cash release to rebuy and crossing fingers the timing will be just as nice getting back in in a much bigger way at around 12-1400 would suit me fine.

[Jayman]

1385 it dropped to. Thai gold association is closed so still basing the price off of 1562 gold. Anyone been to a gold shop and see what they are actually buying/selling it for today?

[jbrain]

1385 it dropped to. Thai gold association is closed so still basing the price off of 1562 gold. Anyone been to a gold shop and see what they are actually buying/selling it for today?

I would doubt the gold shops are open at all, and the ones that are open will probably not buy.

[yoshiwara]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

Its good to hear that every gold bug on this forum sold off all their gold at 1930 and have just been waiting for this moment.

[churchill]

Max Keiser ‏@maxkeiser11m

Gold is forming a very bullish fallopian tube chart pattern. Rebirth.

[jbrain]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

Its good to hear that every gold bug on this forum sold off all their gold at 1930 and have just been waiting for this moment.

It's a high amount of posts to go through, but I'm sure they posted about their decision at the time they sold

Edited April 15, 2013 by jbrain

[Loptr]

Max Keiser ‏@maxkeiser11m

Gold is forming a very bullish fallopian tube chart pattern. Rebirth.

Yes, on it's way to $1200.

[Khun Jean]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

Its good to hear that every gold bug on this forum sold off all their gold at 1930 and have just been waiting for this moment.

Aint that the truth. In practice it is very very hard to hit a peak.

I personally use much longer times between buy and sell to average out those peaks and valleys.

I bought around 750 short after the 2008 crash. sold 50% of that when it hit 1400 expecting it to go down. Instead it went up all the way to 1900. I still bought gold every month but just a little. That averaged out to around 1600 and i still hold those as i am not in a hurry.

When i sold the 50% i changed half of that cash into silver when it was still below 25 and sold half of that laterwhen it was around 40 missing the peak a few months earlier. My plan was to get a better result with silver then with gold and that was pretty successful. Today i bought some silver again because it is under my 25 trigger but just a little as the chance for a stockmarket crash is real and i want to keep cash (in baht) available to buy some more silver when it goes lower as 20 and who knows even lower then that. Need to keep money available for the bargains.

All those 'selling 50%' i mentioned are meant to get the largest amount of the invested cash back.

It works ok as i now have almost the same cash available when i started and have a nice stash of gold and silver extra.

I am not to worried if that stash goes up or down because it is only there for security as i am not a fiat bug.

The averaging and 50% strategy i learned from a good investor (old money, and 1929 'survivor').

The difficulty is sticking to it and don't make decisions when things are wild, i think i am reasonable good at that.

[Naam]

Damn the gold bugs around the internet must be thrilled at this buying opportunity.

Its good to hear that every gold bug on this forum sold off all their gold at 1930 and have just been waiting for this moment.

there must be some honest people who will sooner or later admit that they sold at 1928.50 and even at 1926.75

[Naam]

Max Keiser ‏@maxkeiser11m

Gold is forming a very bullish fallopian tube chart pattern. Rebirth.

afterbirth?

[mccw]

I bought a quarter of my gold at £1050 an oz , but most at £1070. I sold most at £1050. So I lost a bit plus margins. Not good, but not the end of the world; it served its purpose. I would replenish that stock and in fact increase its size 5 or 6 fold whether the price was 15,000bht, 20,000 bht or 30,000bht a bht weight. The point is a % of total assets as a saftey net. This move in price and the times of sell and buy are purely out of lucky timing due to location change and cash flow due to other buisiness about to produce a nice pile of cash.

I've got mortgage debt totalling about 1.2million quid. So an unpleasant way of looking at the gold holding is its costing me 5% a year from some of the debts I might otherwise not have to service. A nice way to look at it however is that the leverage of the debt on me invested capital is giving 25-33% returns rather than 7-13% if cash and facilitate much more capital gains. So the gold is in fact a valuable reserve incase of disaster, banking crises, currency crises or what you. Its value in this respect is greater than the number on the the markets screen on any particular day.

[Naam]

So the gold is in fact a valuable reserve incase of disaster, banking
crises, currency crises or what you. Its value in this respect is
greater than the number on the the markets screen on any particular day.

in essence you might be proved right (long term),

in details you are completely wrong.

the details are:

-Bear Sterns bankruptcy and takeover March 2008 - Gold shoots to $1033/ounce

-Lehman Bros bankruptcy Sept 2008 - Gold at $740/ounce

-Gold gained in 2009 ~40% ($1220/ounce) whereas

the hammered financials gained 300, 400, 500% and more.

nd because we are only discussing "disaster, banking crises, currency crises"

i must add that this last big crisis did not propel Gold over and above the indices

of most major stock markets until this very day.

i humbly apologise for stating facts, which i did not make up

[harryfrompattaya]

President Barack Obama, presently in the Middle East, is confident obtaining permission from Bibi Netanyahu and Hamas to introduce the jewish-islamic ShekelDinar. backed by thin air and lukewarm farts collected in Guantanamo. The Fed will issue Treasury Bonds denominated in ShekelDinars which will replace existing UST held by creditors outside the Yewnighted States. A decision to set the exchange rate USD/SHD at 1,000,000:1 still has to pass the House and the Senate.

Wall Street punters are applauding Obama's move.

http://www.naams-bullsh.org

The German in you comes out. Your type will never learn Edited April 15, 2013 by harryfrompattaya

[yoshiwara]

I bought a quarter of my gold at £1050 an oz , but most at £1070. I sold most at £1050. So I lost a bit plus margins. Not good, but not the end of the world; it served its purpose. I would replenish that stock and in fact increase its size 5 or 6 fold whether the price was 15,000bht, 20,000 bht or 30,000bht a bht weight. The point is a % of total assets as a saftey net. This move in price and the times of sell and buy are purely out of lucky timing due to location change and cash flow due to other buisiness about to produce a nice pile of cash.

I've got mortgage debt totalling about 1.2million quid. So an unpleasant way of looking at the gold holding is its costing me 5% a year from some of the debts I might otherwise not have to service. A nice way to look at it however is that the leverage of the debt on me invested capital is giving 25-33% returns rather than 7-13% if cash and facilitate much more capital gains. So the gold is in fact a valuable reserve incase of disaster, banking crises, currency crises or what you. Its value in this respect is greater than the number on the the markets screen on any particular day.

With cash sitting on the sidelines and not anticipated going anywhere I would prefer to chip away just a little extra on the mortgage debt rather than the gold story I don't buy.

[Naam]

President Barack Obama, presently in the Middle East, is confident obtaining permission from Bibi Netanyahu and Hamas to introduce the jewish-islamic ShekelDinar. backed by thin air and lukewarm farts collected in Guantanamo. The Fed will issue Treasury Bonds denominated in ShekelDinars which will replace existing UST held by creditors outside the Yewnighted States. A decision to set the exchange rate USD/SHD at 1,000,000:1 still has to pass the House and the Senate.

Wall Street punters are applauding Obama's move.

http://www.naams-bullsh.org

The German in you comes out. Your type will never learn

as opposed to "your type" we already learned whatever was to learn