Where Is Gold Going In This Market

[Naam]

For those that like AG as much as AU ( count me as one )

where can one keep a considerable amount (value) of physical silver? another bigger warehouse apart from the warehouse where one keeps the gold?

Naam, now that my gold is getting really valuable, can I store it in one of your closets? I will probably take it back when it hits 1500 later this year

don't forget that i know your house. it's big enough to hold all the gold available in Southeast Asia and there will still be ample space left for you and the ladies you entertain

[Naam]

For those that like AG as much as AU ( count me as one )

where can one keep a considerable amount (value) of physical silver? another bigger warehouse apart from the warehouse where one keeps the gold?

Are you kidding? I have seen pictures of your house & it has some really great spots.

my wine cellar? no way!

[flying]

my wine cellar? no way!

I was thinking more of painting the bars blue & doing a new floor on the bottom of the pool

[Naam]

my wine cellar? no way!

I was thinking more of painting the bars blue & doing a new floor on the bottom of the pool

what colour grout? or no grout at all?

[flying]

my wine cellar? no way!

I was thinking more of painting the bars blue & doing a new floor on the bottom of the pool

what colour grout? or no grout at all?

[jcon]

my wine cellar? no way!

I was thinking more of painting the bars blue & doing a new floor on the bottom of the pool

what colour grout? or no grout at all?

Finally!!!!! A USE for all of this gold and silver malarky!!! Gold = line the pool, silver as the grout.... sorted!

"Do you know how many bakeries I can buy with my pool???" - Dr. Naam in 2020

[churchill]

Gold investors warned to liquidate after 'buying frenzy'

London's leading gold forecaster has advised clients to liquidate holdings of gold and silver until the latest speculative fever abates, warning that futures contracts on New York's Comex exchange are flashing warning signals.

http://www.telegraph.co.uk/finance/comment...ing-frenzy.html

[khunjake]

Gold investors warned to liquidate after 'buying frenzy'

Same thing has been said about the stock markets as well but they just continue to surge on higher. The more bearish reports on gold out there, the more bullish i get.

[flying]

Gold investors warned to liquidate after 'buying frenzy'

London's leading gold forecaster has advised clients to liquidate holdings of gold and silver until the latest speculative fever abates,

hahah Would be London to suggest that now eh?

I mean they have to come up with a certain China/ Hong Kong's gold pronto

Then again they are talking paper gold trading cards eh

Because for physical holdings anyone following this silly notion & selling will lose money based on what he is saying.

Looking for 950 bottom? Jeez not worth the effort to sell & hope to re-buy + premiums at 950.

"We recommend that nimble investors take profits on any long gold and silver positions, looking to re-enter after a correction," said Mr Reade. His price target is $950 over the next month, with fresh rallies in 2010.

Edited September 14, 2009 by flying

[cloudhopper]

"Do you know how many bakeries I can buy with my pool???" - Dr. Naam in 2020

I bet he could get a few already.

Another great Max Keiser interview- http://www.zerohedge.com/article/barrick-gold-conundrum

[flying]

Another great Max Keiser interview- http://www.zerohedge.com/article/barrick-gold-conundrum

Wow!! Everytime gold went up 100 they went in the hole 1 billion

Also the JP Morgan info.........

Thanks good vid

Edited September 14, 2009 by flying

[churchill]

Gold a hedge and no more - yet

http://www.atimes.com/atimes/Global_Economy/KI15Dj08.html

[flying]

What Price Suits Gold?

http://online.wsj.com/article/SB1000142405...3376917198.html

[flying]

http://jessescrossroadscafe.blogspot.com/

Long Term Gold Chart Targets 1325

Someone asked for a long term chart in gold.

Projecting this leg in the gold bull market has been of keen interest to us on one dimension, since we do have some trading activity in our own account. However, on the long term for our core positions it is of no more interest now than it was when gold was trading at 550, 450, or even 250. Gold is in a bull market, and you never give up your core positions in a bull market. You can trade around them if you are an aggressive trader.

As an aside, to anyone who can read a chart and as you can plainly see for youself, gold is in an obvious bull market. If you are dealing with someone who says it is not then they can only a) be incapable of reading a chart, be blinded by a mistaken belief, or c) be talking their or someone else's book. There seem to be a few analysts, never bullish on gold in a spectacular bull market, working for major gold trading houses, that fit into this last category.

So, gold appears to be targeting somewhere just north of 1300 for this leg of its bull market. As it says on the chart, this is a LONG term projection, and it should therefore be expected to play out over the LONG term.

The lower bound on gold on these formations is higher than 925 so we would not expect gold to trade lower than that while these formations are 'working.'

Every bull market has its 'wall of worry.' Gold certainly has its own. Its price increases are being met with fierce opposition by four or five US Wall Street banks who are increasing their paper shorts against it to record numbers.

The game of Wall Street is misdirection and mischief using paper and the control of information. Yesterday's US retail sales data was a nice example of the partnership in deception between Wall Street and Washington to deceive the people for a variety of motives, some well-intentioned and some merely venal.

For this reason the Bankers and the statists hate gold, because it defies their control, and that of the money manipulators, those who would control nations and the many by controlling their money.

[flying]

Gold Rises to Record Settlement Price on Inflation Concern

By Halia Pavliva and Nicholas Larkin

Sept. 16 (Bloomberg) -- Gold rose to a record settlement price on speculation that a global economic recovery will stoke inflation. Silver jumped to a 13-month high as the dollar’s slump boosted demand for metals as alternative investments.

The worst U.S. recession since the 1930s has probably ended, Federal Reserve Chairman Ben S. Bernanke said yesterday. The dollar slid to its lowest level in almost a year against a basket of six major currencies as the economic outlook reduced demand for the greenback as a haven. Gold futures were 1.3 percent below an intraday record $1,033.90 set in March 2008.

“The dollar is being attacked on all sides,” Miguel Perez-Santalla, a sales vice president at Heraeus Precious Metals Management in New York, said in an e-mail. “The commodities are gaining on their already powerful momentum. It is all technical and investment buying.”

Gold futures for December delivery advanced $13.90, or 1.4 percent, to $1,020.20 an ounce on the Comex division of the New York Mercantile Exchange. Earlier, the price reached $1,023.30, the highest since March 17, when the metal climbed to the record.

Bullion for immediate delivery climbed 0.9 percent to $1,016.52 at 3:10 p.m. New York time. The Reuters/Jefferies CRB Index of 19 raw materials has gained 15 percent this year after tumbling 36 percent in 2008.

Inflation expectations are rising after central banks cut borrowing costs and the Group of 20 nations pledged about $12 trillion to spur their economies. Precious metals have soared this year as investors sought to shield their wealth against inflation and a declining dollar.

‘Inflation Story’

“The inflation story has got people very concerned,” said Bernard Sin, the head of currency and metals trading at bullion refiner MKS Finance SA in Geneva. “People are trying to move dollars into commodities, especially gold. The market is really concerned about the behavior of the dollar.”

Wholesale prices in the U.S. rose more than twice as much as forecast in August, led by gasoline costs that have since partially receded, according to government figures released yesterday. The 1.7 percent increase in prices paid to factories, farmers and other producers was the fourth gain in five months, the Labor Department said.

“Fundamentals are still generally negative, and the market is overbought,” Tom Pawlicki, an analyst at MF Global Inc. in Chicago, said in an e-mail. “However, prices should make gradual improvements on recent trading ranges due to expectations for higher inflation down the road and due to potential weakness in the dollar.”

Gold has climbed 15 percent this year as the dollar dropped 6.2 percent against the currency basket.

Inflation ‘Vengeance’

“Given the commitment of governments and central banks to avoid a deflationary depression at all costs, it is only a matter of time until inflation returns with a vengeance,” Mike Stuart, an analyst at Numis Securities Ltd. in London, said in a report. “Without surging inflation fears, a sustained move over $1,000 would require a continued steady fall in the dollar.”

On the Comex, bets that prices will rise, or net-long positions, jumped 22 percent to a record 224,676 contracts in the week ended Sept. 8, government data showed last week.

“Funds keep pushing, but the size of the long position is truly worrisome, and the market might deal surprises to late- comers and trend-followers,” Jon Nadler, a senior analyst at Kitco Inc. in Montreal, said via e-mail. “One-way market streets have not yet been invented.

Silver Climbs

Silver futures for December delivery rose 43 cents, or 2.5 percent, to $17.43 an ounce on the Comex. Earlier, the price reached $17.58, the highest level since Aug. 4, 2008. The metal has gained 54 percent this year.

Platinum futures for October delivery gained $29.80, or 2.3 percent, to $1,350.10 an ounce on the Nymex. The price reached $1,351.60, the highest level in a year.

Palladium futures for December delivery rose $4.25, or 1.4 percent, to $300.50 an ounce. Earlier, the price reached $304.80, the highest level since Sept. 2, 2008.

Platinum gained 43 percent this year, and palladium jumped 59 percent.

‘‘Platinum has the best long-term supply-and-demand fundamentals out of all the precious metals,’’ John Reade, the head metals strategist at UBS AG in London, said in a note.

Platinum and palladium are used in jewelry and pollution- control devices in cars.

To contact the reporters on this story: Nicholas Larkin in London at [email protected]; Halia Pavliva in New York at [email protected]

Last Updated: September 16, 2009 15:11 EDT

http://www.bloomberg.com/apps/news?pid=206...id=aTy3bohk7HKU

My only regret is the time recently when gold & platinum were near even ...I saw it & did not react

Edited September 17, 2009 by flying

[Naam]

My only regret is the time recently when gold & platinum were near even ...I saw it & did not react

there was a day or two when Platinum was cheaper than Gold. to the best of my knowledge that happened only once before. i saw it too and did not react

[Naam]

For this reason the Bankers and the statists hate gold, because it defies their control, and that of the money manipulators, those who would control nations and the many by controlling their money.

HALLELUJAH AMEN!

[lannarebirth]

http://jessescrossroadscafe.blogspot.com/

Long Term Gold Chart Targets 1325

Someone asked for a long term chart in gold.

Projecting this leg in the gold bull market has been of keen interest to us on one dimension, since we do have some trading activity in our own account. However, on the long term for our core positions it is of no more interest now than it was when gold was trading at 550, 450, or even 250. Gold is in a bull market, and you never give up your core positions in a bull market. You can trade around them if you are an aggressive trader.

As an aside, to anyone who can read a chart and as you can plainly see for youself, gold is in an obvious bull market. If you are dealing with someone who says it is not then they can only a) be incapable of reading a chart, be blinded by a mistaken belief, or c) be talking their or someone else's book. There seem to be a few analysts, never bullish on gold in a spectacular bull market, working for major gold trading houses, that fit into this last category.

So, gold appears to be targeting somewhere just north of 1300 for this leg of its bull market. As it says on the chart, this is a LONG term projection, and it should therefore be expected to play out over the LONG term.

The lower bound on gold on these formations is higher than 925 so we would not expect gold to trade lower than that while these formations are 'working.'

Every bull market has its 'wall of worry.' Gold certainly has its own. Its price increases are being met with fierce opposition by four or five US Wall Street banks who are increasing their paper shorts against it to record numbers.

The game of Wall Street is misdirection and mischief using paper and the control of information. Yesterday's US retail sales data was a nice example of the partnership in deception between Wall Street and Washington to deceive the people for a variety of motives, some well-intentioned and some merely venal.

For this reason the Bankers and the statists hate gold, because it defies their control, and that of the money manipulators, those who would control nations and the many by controlling their money.

Gold might go to $1325 (or higher) but not based on that chart. It's bad T/A and looks like cheerleading.

"I'm long because I'm bullish, I'm not bullish because I'm long" Jesse Livermore

[flying]

Gold might go to $1325 (or higher) but not based on that chart. It's bad T/A and looks like cheerleading.

"I'm long because I'm bullish, I'm not bullish because I'm long" Jesse Livermore

I will take your word for it

I am limited to support, resistance & trend lines

And only as a interest as I did not buy based on charts.

I do think it is a talent & your lucky to have made it a tool

Edited September 17, 2009 by flying

[LivinLOS]

Been away for a while.. Is Vicky still around shorting it ??

650 was the price target wasnt it ??

[CaptainARK1]

Gold major trend reversal imminent!

First drop can be $40-60 in a heartbeat.

New downtrend will last for 2 years or more.

Answering churchill's question, "why?"

http://www.dynamic-stock-market-strategies...aryopinion.html

(No disrespect intended - terms like "herd" etc. are now widely used generic market terms)

History clearly suggests that the herd never learns from past errors and is doomed to repeat them ad infinitum. The HERD is always wrong at important market junctures.

On a different note, ask yourselves this - the win-lose % stats for the last 100s of years is 95% of investors consistently lose.

But here in this thread, 100% are bullish and in a frenzy. Someone said "charge" and all responded as one unit = HERD mentality.

Its clear to see there is not a single individual here. (Only churchill has shown some restraint)

What does this mean to me? All will die. Order your coffin(s) now.

Nobody here has even considered who is taking the other side of your buy, buy, buy trades - why, its the smart money of course, aka the commercial hedgers. So in essence the folk who can only think as a group and take guey cuddly sustenance from the presence of others and who couldn't do doodly on their own individually, namely all of you, are in collective ecstasy and the smart money is delightedly giving them all the gold they want to buy, thus taking profit right at an important market juncture top. The smart money hedgers couldn't have dreamed of a better scenario - but this is exactly how it has always gone down. Same sh*t, different decade, different participants.

----------------------

Something else you may want to consider ....

its going back to rock bottom basics of basics ....

Supply/Demand

Gold's March 2008 top is an area of stupendous supply. To understand and acknowledge this, look at the weekly price bar drop when gold first hit that high. That is a dead giveaway of the sheer power in that supply. Now disregard what experts are saying about gold's recent attempts to revist that high - actually now is the first time that Gold is aproaching the actual high. The other recent visits were just to the high foothills, the breasts of that high.

The real party/test will be when gold gets right into that area +/- $2. Then we'll see.

The long-standing law of Supply/Demand is - when a market approaches a previous area of supply for the first time, it is an excellent SHORT.

Not one of you has even considered that it might be best to sit on the sidelines and wait? If gold is going to go to 20k, what's the hurrry to catch $50?

This thread is an astonishingly excellent example of the folly of crowds.

Peace to all.

Gold multiyear bearmarket on the cusp of realization. Fasten seatbelts for downhill ride.

[lannarebirth]

Cap, I'm not a Gold bull. Don't even have any except the Mrs's jewelry.

I'm not sure I'm understanding your "supply" argument. At all time highs there is no overhead supply. The number of transactions that have taken place at this level and above is miniscule. Now if you're talking about it being a level that may entice holders (all of whom have profitable positions) to take profits, well that's another story.

You're aware of the perceived significance of a weekly close up here I assume?

Anyhow, contracts on Gold have another month to go. I expect lots of volatility. Good Luck

[flying]

Not one of you has even considered that it might be best to sit on the sidelines and wait? If gold is going to go to 20k, what's the hurrry to catch $50?

This thread is an astonishingly excellent example of the folly of crowds.

Perhaps you are the one who has not considered it best to sit on the sidelines holding some gold?

Look at the date when this thread was started & see what the price of gold was then. Some including myself bought back then.

Some where smart enough to buy long before in 01-05 when many said it was a good idea.

What is the hurry to catch the $ ? When did you start & where are you now?

Not sure who shows more folly

Edited September 18, 2009 by flying

[lannarebirth]

Not one of you has even considered that it might be best to sit on the sidelines and wait? If gold is going to go to 20k, what's the hurrry to catch $50?

This thread is an astonishingly excellent example of the folly of crowds.

Perhaps you are the one who has not considered it best to sit on the sidelines holding some gold?

Look at the date when this thread was started & see what the price of gold was then. Some including myself bought back then.

Some where smart enough to buy long before in 01-05 when many said it was a good idea.

What is the hurry to catch the $ ? When did you start & where are you now?

Not sure who shows more folly

Speaking of waiting, why didn't he wait to see which way the triangle was going to breakout?

[Abrak]

I'm not sure I'm understanding your "supply" argument.

I am not a gold bull and dont own any - preferring silver but I do see a 'supply' argument. If you see gold as a 'currency' it always looks pretty good on average. If you argued that an investor should have say 5% of his investment assets in gold then I believe investors would own considerably more than the entire stock of gold in the world (while CBs now own a lot).

So it really is the most over recommended 'anything' I have ever seen (how can people write 20,000 'analysis' reports on such a thing) but it isnt overowned.

[flying]

Speaking of waiting, why didn't he wait to see which way the triangle was going to breakout?

He wanted to be early at the condescending party?

[flying]

I am not a gold bull and dont own any - preferring silver

I like both but am weighted 33/1 in Silver versus gold.

From time of purchase silver is up 40+%

While Gold is up just under 20%

Yet cost of acquisition is half for the silver.

So........hindsight

[lannarebirth]

I'm not sure I'm understanding your "supply" argument.

I am not a gold bull and dont own any - preferring silver but I do see a 'supply' argument. If you see gold as a 'currency' it always looks pretty good on average. If you argued that an investor should have say 5% of his investment assets in gold then I believe investors would own considerably more than the entire stock of gold in the world (while CBs now own a lot).

So it really is the most over recommended 'anything' I have ever seen (how can people write 20,000 'analysis' reports on such a thing) but it isnt overowned.

I understand Your supply argument, but not his. I think he means "profit taking".

[Abrak]

I like both but am weighted 33/1 in Silver versus gold.

From time of purchase silver is up 40+%

While Gold is up just under 20%

Yet cost of acquisition is half for the silver.

So........hindsight

The only way I can make sense of that is to assume your ratio is in weight.

At which point I will have to admit that I dont own any silver simply an electronic input referred to as 'SLV' which is pretty close to silver but without the vowels.

[flying]

I like both but am weighted 33/1 in Silver versus gold.

From time of purchase silver is up 40+%

While Gold is up just under 20%

Yet cost of acquisition is half for the silver.

So........hindsight

The only way I can make sense of that is to assume your ratio is in weight.

At which point I will have to admit that I dont own any silver simply an electronic input referred to as 'SLV' which is pretty close to silver but without the vowels.

yes that is why I said weighted

For me SLV is close to silver like fiat is close to money

But if I were a trader I would use that vehicle & others along with a few in the gold sector

Edited September 18, 2009 by flying