Where Is Gold Going In This Market

[badge]

But I have to agree that like you I would be a bit nervous too holding large in Thailand. Then again I can hide stuff like you wouldn't believe.

hiding is no problem at all! transporting is the problem if you want to move or are perhaps forced to move to another country.

Correct.

An example might be when the National Socialist German Workers Party disbanded, largely to South America.

[AlexLah]

If worried about how to transport (short distance) your (Gold) assets consider below option perhaps covered with some table cloth.....

[flying]

Without even looking at a chart it seems gold has set a real pattern since last Oct.

Seems like we set new highs then it pulls back to 20-40 range of previous hundred

Meaning it was 735 range last Oct

breaks thru to 860+ pulls back to 820-840 coils

Breaks thru to 960+ pulls back to 920-930 coils

Breaks thru to 1060 pulls back to 1020-140 coils

What is next? Breaks thru to? 1160? Will we see a break thru & pull back to 1120 range 3rd week of Nov?

I would not be at all surprised given what I have seen this past year.

Well tomorrow is the last trading day of the 3rd week of November.

I am surprised at where we are & looks like my guess above may not? pan out.

I really expected the markets to pull back earlier this week & take gold with it. Seems to be starting today for the stock markets but Gold is still looking quite strong even on the last couple of dollar up days.

We will see.....

I did also say a few months before that I would not be surprised to see gold outpace all currencies in Nov.... So I guess this should not be a shock to me that gold is reacting even stronger than I thought.

[lannarebirth]

Without even looking at a chart it seems gold has set a real pattern since last Oct.

Seems like we set new highs then it pulls back to 20-40 range of previous hundred

Meaning it was 735 range last Oct

breaks thru to 860+ pulls back to 820-840 coils

Breaks thru to 960+ pulls back to 920-930 coils

Breaks thru to 1060 pulls back to 1020-140 coils

What is next? Breaks thru to? 1160? Will we see a break thru & pull back to 1120 range 3rd week of Nov?

I would not be at all surprised given what I have seen this past year.

Well tomorrow is the last trading day of the 3rd week of November.

I am surprised at where we are & looks like my guess above may not? pan out.

I really expected the markets to pull back earlier this week & take gold with it. Seems to be starting today for the stock markets but Gold is still looking quite strong even on the last couple of dollar up days.

We will see.....

I did also say a few months before that I would not be surprised to see gold outpace all currencies in Nov.... So I guess this should not be a shock to me that gold is reacting even stronger than I thought.

Let's see what happens:

[flying]

Let's see what happens:

Come on now

You know I always ask for your thoughts/commentary when you post graphs.

I may have a hunch but like to hear your premise too

[lannarebirth]

Let's see what happens:

Come on now

You know I always ask for your thoughts/commentary when you post graphs.

I may have a hunch but like to hear your premise too

I thought you might remember:

http://www.thaivisa.com/forum/index.php?s=...t&p=3022067

[flying]

Let's see what happens:

Come on now

You know I always ask for your thoughts/commentary when you post graphs.

I may have a hunch but like to hear your premise too

I thought you might remember:

http://www.thaivisa.com/forum/index.php?s=...t&p=3022067

Ah yes.........I remember now

Very good as the recent high yesterday was 1149 right in your range & like you said we will see now what happens.

If it coils & jumps again or not.

Like I said earlier I thought it would do the same basically & go as high as 1160-ish then return to the 1120-ish range to coil again.

Interested to see whats next

Thanks

Edited November 19, 2009 by flying

[badge]

Thats an interesting spot LB

Good Luck

[syd barrett]

The English publication 'The Daily Telegraph' (dated November 19th 2009) suggested that Gold willl hit US$ 5,000 per ounze.

[flying]

Peter Schiff on Gold, Geitner, Roubini, the Fed and housing

[flying]

Gold & Silver on the move again

Gold ask at $1161.90

Silver at $18.72

Could be a interesting week starting.

[flying]

Gold hits fresh high, as December contract tops $1,160

TOKYO (MarketWatch) -- Gold futures rallied in electric trading on late Monday morning in Asia, as safe-haven demand helped lift the December contract to a fresh high above $1,160 an ounce.

The gain extended a winning streak Friday in New York that's already spanned six straight sessions.

"It is an unbelievable rally," said Darin Newsom, a senior analyst at Telvent DTN.

"Buying seems to be coming from three sides: inflation hedge, safe-haven buying due to continued global economic concerns, and demand for paper (futures) coming from both commercial and noncommercial buying," he said. See Commodities Corner on gold's prospects.

Gold for December delivery, the most actively traded contract, climbed as high as $1,162.50 an ounce on Globex by late morning trading in Tokyo. It later eased slightly but was still up $14.40, or 1.3%, at $1,161.20.

On Friday, the contract rose by $4.90, or 0.4%, to $1,146.80 an ounce on the Comex division of the New York Mercantile Exchange, while the thinly-traded November contract rose 0.4% to $1,146.40, the highest level for a Comex front-month contract.

Newsom said he has an initial target for gold prices just short of $1,390.

He expects gold prices to reach his target price sometime in the first quarter of 2010.

"But given the momentum the market is seeing now, it could be by the end of December," he said.

Gold futures have made significant gains in the second half of this year. Benchmark gold futures contracts have soared more than 26% since their July low. Gold rose in 16 out of the 19 weeks since the week started July 17. See Friday's Metals Stocks.

Myra P. Saefong is MarketWatch's assistant global markets editor, based in Tokyo.

[flying]

http://www.cnbc.com/id/15840232?video=1339705660&play=1

[jazzbo]

Bernanke's revenge:

http://www.gamesforwork.com/games/play-7855-Unstoppable_Flying_Assholes-Flash_Game

[khunjake]

Almost vertical from the $1030 bottom late last month.

Straight up still or devastating correction coming on the horizon?

[flying]

Almost vertical from the $1030 bottom late last month.

Straight up still or devastating correction coming on the horizon?

No crystal ball but nothing goes up or down constantly

My guess is a correction or sideways but I do not see it as a devastating correction.

What would be the reason?

Gold is going up as dollar goes down but also on dollar up days we have seen gains recently.

So it is not just about price in dollars. It is also a show of lack of confidence in govt policy

We will see..........

[sokal]

Almost vertical from the $1030 bottom late last month.

Straight up still or devastating correction coming on the horizon?

I think there will be a correction but what do you consider devastating ? $1050 ?

[sokal]

Almost vertical from the $1030 bottom late last month.

Straight up still or devastating correction coming on the horizon?

I think there will be a correction but what do you consider devastating ? $1050 ?

[flying]

I think there will be a correction but what do you consider devastating ? $1050 ?

If your long gold the bull market has been going strong for quite some time now.

The only real correction being the flight to the dollar last year during the initial impact of the crisis.

Even that would not have been considered devastating to a long. Instead a buying opportunity same as 820,920 & 1020 approx. was.

With that in mind any correction may be seen as the same buying opportunity.

Silver has not really even broken out yet. That will be interesting to watch too.

[flying]

India Drives Gold Higher

The Reserve Bank of India announced that it will consider buying the IMF's remaining stash of 201.3 tons of gold igniting gold prices. Central bank purchases often trigger momentum buying as investors invest in gold as an alternative asset.

article at link above

[PCA]

Gold is hot now but entering a blow off top. Watch out for DZZ (200% short gold). Buy below 10(around 12 now) and average down further below if necessary. Kiss back at 30(40/50) within 3 years. This is especially attractive for non American Investors as it includes a projected and unavoidable turn around of the US$. Don't forget to donate some profits to charity

[flying]

Sign of the Times: U.S. Mint Has To Temporarily Suspend Sales of Ounce Gold Coins Due to Demand

The U.S. Mint announces a temporary suspension of sales of 2009-dated one ounce American Eagle Gold Bullion coins due to the continued strong demand for this product.

In a notice to vendors the Mint said, "We will temporarily suspend sales of this product to build up additional inventory. It is expected that sales will resume in early December."

In September and October, 115,500 ounces of American Eagle Gold One Ounce Coins were sold each month. November sales, to date, are continuing strong at 124,000 ounces.

Approximately 1,300,000 ounces of 2009-dated American Eagle Gold One Ounce Bullion Coins have been sold, up 83% compared to 2008-dated coins (710,000 ounces sold).

[flying]

Bit of a side track.....Although gold related.

I'm not into jewelry but a friend sent me this link from the

Baghdad Museum

I was looking at just part 9 so far but interesting intricate gold jewelry

http://www.baghdadmuseum.org/secret/index.htm

http://www.baghdadmuseum.org/secret/index.htm

Edited November 26, 2009 by flying

[flying]

Gold is hot now but entering a blow off top. Watch out for DZZ (200% short gold). Buy below 10(around 12 now) and average down further below if necessary. Kiss back at 30(40/50) within 3 years. This is especially attractive for non American Investors as it includes a projected and unavoidable turn around of the US$. Don't forget to donate some profits to charity

Could be but the way commercial/residential real estate is headed here.....

I would be willing to maybe bet on SRS instead.

[lannarebirth]

Gold is hot now but entering a blow off top. Watch out for DZZ (200% short gold). Buy below 10(around 12 now) and average down further below if necessary. Kiss back at 30(40/50) within 3 years. This is especially attractive for non American Investors as it includes a projected and unavoidable turn around of the US$. Don't forget to donate some profits to charity

Could be but the way commercial/residential real estate is headed here.....

I would be willing to maybe bet on SRS instead.

There are certain truisms in technical analysis, and one is, once charts start going vertical, you know it will all be given back at some point. You can lose a lot of money trying to pick that top though.

Edited November 27, 2009 by lannarebirth

[flying]

There are certain truisms in technical analysis, and one is, once charts start going vertical, you know it will all be given back at some point. You can lose a lot of money trying to pick that top though.

I know you have a lot of charting under your belt.

I have also heard this about vertical wall type charts.

One thing I wonder is reasons for such behavior. Meaning

when it comes to stocks news driven etc.. I understand the reasoning for chart

expectations.

But when it comes to gold & silver I am wondering. Will all rules or past charting experiences hold true?

Wondering is based on the reasons for the rise. Not just the common reasons that the talking heads use

on all the financial shows. Jewelry demand....dollar loss etc..

But today the other reason of loss of faith in a current system. With that in mind I wonder about this wall of

worry that gold is climbing. What would collapse *that* wall? I do not see anything on the near horizon so that

makes the wall even more......I dont even want to say impressive.... But it all just makes me wonder.

I am long physical & not trading coins. But the general market action is very interesting to watch & try to understand the

fears & expectations that are driving it.

So I guess what I am asking is do you have a premise for why this vertical climb would collapse anytime soon? Other than...that is just a normal reaction seen so often in charting?

Just curious & not being bold or daring...Just a honest question. As I said I know you & a few others are well versed in charting/tech analysis.

[PCA]

Gold is hot now but entering a blow off top. Watch out for DZZ (200% short gold). Buy below 10(around 12 now) and average down further below if necessary. Kiss back at 30(40/50) within 3 years. This is especially attractive for non American Investors as it includes a projected and unavoidable turn around of the US$. Don't forget to donate some profits to charity

Could be but the way commercial/residential real estate is headed here.....

I would be willing to maybe bet on SRS instead.

There are certain truisms in technical analysis, and one is, once charts start going vertical, you know it will all be given back at some point. You can lose a lot of money trying to pick that top though.

Trading takes a plan at first and what goes for risk it is very low for this one. DZZ will not go to 0 but Gold the sooner or the later will move south again (gravitational force ). Comfortable size does the trick here and some patience eventually. Full risk is always on the table unlike playing top/bottom picking with futures. It was the same thing with Crude via DXO a couple of months ago.

@flying,

SRS is a short on Real Estate. What should there be better or even comparable?

Edited November 27, 2009 by PCA

[flying]

@flying,

SRS is a short on Real Estate. What should there be better or even comparable?

Sorry Nothing really....All I meant was given the climate I would feel safer

shorting real estate than gold at this time. But I am based in the US 80% of the year.

So it may be coloring my view.

[lannarebirth]

There are certain truisms in technical analysis, and one is, once charts start going vertical, you know it will all be given back at some point. You can lose a lot of money trying to pick that top though.

I know you have a lot of charting under your belt.

I have also heard this about vertical wall type charts.

One thing I wonder is reasons for such behavior. Meaning

when it comes to stocks news driven etc.. I understand the reasoning for chart

expectations.

But when it comes to gold & silver I am wondering. Will all rules or past charting experiences hold true?

Wondering is based on the reasons for the rise. Not just the common reasons that the talking heads use

on all the financial shows. Jewelry demand....dollar loss etc..

But today the other reason of loss of faith in a current system. With that in mind I wonder about this wall of

worry that gold is climbing. What would collapse *that* wall? I do not see anything on the near horizon so that

makes the wall even more......I dont even want to say impressive.... But it all just makes me wonder.

I am long physical & not trading coins. But the general market action is very interesting to watch & try to understand the

fears & expectations that are driving it.

So I guess what I am asking is do you have a premise for why this vertical climb would collapse anytime soon? Other than...that is just a normal reaction seen so often in charting?

Just curious & not being bold or daring...Just a honest question. As I said I know you & a few others are well versed in charting/tech analysis.

I am not one who has claimed that Gold is in a bubble. It has been in a strong bull move for years and for the most part it has tested breakouts, corrected or consolidated appropriately prior to its next move higher. Around here is its "target" for this move. It should be a low risk trade to short when backed up against resistance because one doesn't have to make their stop loss too big. If it doesn't correct/consolidate here I'll be in the bubble camp. The reason parabolic charts collapse is because there is no support. Speculators from lower levels start taking profits, people who bought the top on margin are underwater, margin calls, and down she goes.

I don't trade it (Gold), but I do trade the derivative for PM stocks. I find that is easier for me to map.

[lannarebirth]

Trading takes a plan

Couldn't agree more.