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Gold, Discussion
flower
post Posted: Yesterday, 11:57 PM
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In Reply To: wren's post @ Yesterday, 11:04 PM

QUOTE
Gold and Silver really getting whacked Gold is $1164 at present.Reckon the big fall might actually be tonight


Any BIG fall tonight might signal the actual bottom--for this move.

It appears the USD is rising because of the Japanese decision to INCREASE QE, that collapses the YEN, POG collapses even further as the USD rises.

All good news for those that are waiting for the actual bottom in NST, night is yet young, certainly going to be a very interesting Monday, now where is that bottle of Johnny Walker Blue Label wacko.gif
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wren
post Posted: Yesterday, 11:04 PM
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Gold and Silver really getting whacked Gold is $1164 at present.Reckon the big fall might actually be tonight.How is it possible that something that 'everyone knows' (ho ho) is 'worth' $2,500,$3,500 or even $10,000 (double chortle) is so cheap?Still,it hasn't quite happened yet but I would not wish to be long Gold or Gold stocks tonight.Stay tuned.

 
early birds
post Posted: Yesterday, 08:09 PM
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In Reply To: wren's post @ Yesterday, 06:31 PM

Buyers in top consumer China failed to emerge despite the drop below $1,200.

Premiums on the Shanghai Gold Exchange - the main platform for physical trades in the country - slipped on Friday to less than $1 an ounce, occasionally even dropping to a discount against the global benchmark.

Premiums ranged between $1 and $2 on Thursday.
http://www.cnbc.com/id/102139189
==============

no chinese dama come to the rescue this time as they got burned last time. wink.gif

seems usd1000 bot that far away wren. devilsmiley.gif

 
wren
post Posted: Yesterday, 06:31 PM
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The day is still young,however Gold is currently trading at $1175.Imo,if Gold closes below $1180 for two consecutive days,a large fall is extremely likely.(a TA view that has been stated previously).

 
flower
post Posted: Yesterday, 05:03 PM
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In Reply To: wren's post @ Yesterday, 04:02 PM

QUOTE
the USD is not collapsing

Yet rolleyes.gif



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wren
post Posted: Yesterday, 04:02 PM
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In Reply To: flower's post @ Oct 28 2014, 09:43 AM

Despite various meetings,backwardation etc,etc,the HUI took another huge hit last night.The chart now strongly suggests more falls to follow.There are suggestions that ASX gold stocks including the local favourite NST are great value.If this plays out the way the TA suggests ,an investment on any horse in the Melbourne Cup is very likely a better punt.And no Virginia,the USD is not collapsing and last time I looked neither in the US economy.


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flower
post Posted: Oct 28 2014, 09:43 AM
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In Reply To: wren's post @ Oct 28 2014, 08:11 AM

QUOTE
The Gold Bug Index (^HUI) closed at a five year low.The Index is the same now as it was in 2003.The Gold chart looks weak from a TA viewpoint.Although Gold may pause at 1200 to 1180,a major fall is a distinct possibility.

.
On the other hand given tonight is a COMEX option expiry session, and the FOMC meeting tomorrow, plus the fact that gold went into backwardation last night, a major rise in the POG is also a distinct possibility--to night. (see last paragraph of clip).

.
This from a Bullion Desk overnight
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Gold prices have continued to trade within tight ranges amid subdued trading on Monday while investors are happy to wait on the sidelines ahead of Wednesday's Fed meeting.

The spot gold price was last at $1,229.00/1,229.80 per ounce, down $1.60 on the pre-weekend close and still confined to a sub-$5 intraday range.

Focus now turns to what many believe to be the end of the US' third quantitative easing programme (QE3), which has buoyed the US economy for the last 27 months. While it is unlikely to have a marked effect on prices, any changes to forward rate guidance would affect precious metals down the line.

"Since the last meeting in September, financial markets have pushed back the anticipated date for the first rate hike next year to the October meeting. This has been beneficial to gold and has been a factor in the recovery this month," UBS analyst Edel Tully said.

"But the risk is that with the FOMC meeting looming, it also means that any hawkish tone which prompts markets to price in an earlier Fed rate hike could lead to a more sizeable negative reaction. Gold price action is likely to be generally muted ahead of the FOMC, as market participants wait for further guidance," she added.

The one-month, two-month and three-month gold forward offered rates (GOFO) slipped into backwardation for the first time in nearly three months, indicating that many investors are looking to take delivery of physical gold immediately.



- See more at: http://www.bulliondesk.com/gold-news/bulli...h.O2W81Pzr.dpuf



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wren
post Posted: Oct 28 2014, 08:11 AM
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The Gold Bug Index (^HUI) closed at a five year low.The Index is the same now as it was in 2003.The Gold chart looks weak from a TA viewpoint.Although Gold may pause at 1200 to 1180,a major fall is a distinct possibility.

 
flower
post Posted: Oct 26 2014, 12:07 PM
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GLD (the ETF) holding's last week dropped to their lowest since October 2008.. Does the date ring any bells?

Next week we have a COMEX option expiration followed by the FOMC meeting.

POG going forward will very much depend on what happens at that meeting--IMO.
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Held in Trust:
Tonnes745.39
Ounces23,964,928.38
Value US$29,531,132,372.08



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flower
post Posted: Oct 20 2014, 11:34 PM
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Will events overtake India's Finance Ministry? (clip from Reuters tonight)
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Oct 20 (Reuters) - India's Finance Ministry has written to the central bank to consider reimposing some restrictions on gold imports after inbound shipments surged in the last few months, widening the trade deficit, the Economic Times reported on Monday.The central bank eased some gold import rules in May by allowing seven more private agencies to ship in the precious metal, driving a sharp jump in overseas buying despite a record import duty of 10 percent.

A 450 percent rise in gold imports expanded the trade deficit to an 18-month high of $14.25 billion in September, creating concerns for the government, an unidentified finance ministry official told the Economic Times.

Gold is India's second-biggest expense on imports after oil, and shipments of the metal tend to jump ahead of key festivals in October.

etc etc.






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