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Gold, Discussion
early birds
post Posted: Nov 28 2014, 11:24 PM
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The initiative is being proposed by the ultra-conservative Swiss People's party with the intention of boosting the security and independence of Switzerland. However, the idea has one very notable critic in Willem Buiter, the chief economist at the U.S. investment bank Citi, who has deemed the commodity to be in a 6,000-year bubble.
"No central bank should hold any gold reserves, in our view," he said in a research note released on Thursday. Buiter urges caution, saying that a central bank holding 20 percent of its balance sheet in any single commodity is "highly unorthodox" and a "risky investment strategy.
"Investing a vast amount of money in something whose value is based on nothing more than a set of self-confirming beliefs will make for an exciting ride. Whether that is enough to impose it as a requirement on one's central bank is another matter," he added.
http://www.cnbc.com/id/102223258?trknav=homestack:topnews:1
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cooderman
post Posted: Nov 27 2014, 02:24 PM
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if you are holding shares in gold companies you would be hoping for a quick pullback into that triangle....xauusd 4H

failing that hope 1182 holds as support

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flower
post Posted: Nov 20 2014, 10:19 AM
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In Reply To: eBear's post @ Nov 20 2014, 12:53 AM

QUOTE
On November 30, the Swiss will vote on whether or not the Swiss National Bank will have to hold at least 20 percent of its assets in gold.


An overnight poll in Switzerland shows a majority are NOT IN FAVOUR of this happening, which very likely resulted in the immediate drop in the POG.



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Combining Fundamental comments with Fundamental charts.
 
eBear
post Posted: Nov 20 2014, 12:53 AM
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QUOTE
... Schiff shared his insights on the upcoming Swiss referendum and why he thinks it may potentially have a bigger impact ‘beyond Swiss borders.’ On November 30, the Swiss will vote on whether or not the Swiss National Bank will have to hold at least 20 percent of its assets in gold.


http://www.kitco.com/news/2014-11-18/Best-...ter-Schiff.html



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"There is no present or future-only the past, happening over and over again-now"

- Eugene O'Neill
 
flower
post Posted: Nov 19 2014, 08:36 AM
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This clip via overnight Reuters needs to be taken seriously until proven otherwise:
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NEW DELHI: India is likely to announce new measures to curb gold imports as early as Tuesday, a senior finance ministry source said, and they could include restrictions on a group of private trading firms that have been allowed to bring in the precious metal.

Shipments to the world's second-largest gold buyer jumped four-fold in October from a year earlier to $4.18 billion, raising concern about country's fragile balance of payments.





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Combining Fundamental comments with Fundamental charts.
 
flower
post Posted: Nov 16 2014, 07:20 PM
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In Reply To: cooderman's post @ Nov 15 2014, 09:23 AM

QUOTE
The joys of trying to predict Gold.


Yes indeed, the POG moved out of that pennant in the wrong direction T/A wise?

POG not out of the woods just yet, however IF the POG should go over USD1200 and hold that area during next week, then the bottom for this moved should be finally in, and selected gold producers like NST should finally come into their own, the USD is the fly in gold's ointment but bear in mind gold is firmly in backwardation for all 3 months usually watched as an indicator, that said the POG can still rally WITH the USD, which usually brings about the most powerful of all rallies in the POG.

Plenty of Fundamental news "stuff" affecting the POG due out next week.



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Combining Fundamental comments with Fundamental charts.
 


cooderman
post Posted: Nov 15 2014, 09:23 AM
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The joys of trying to predict Gold.

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cooderman
post Posted: Nov 14 2014, 02:36 PM
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In Reply To: arty's post @ Nov 14 2014, 10:56 AM

I started to have doubts about Gold this morning, Arty....I had to go out and didn't know if I would get back before close so I closed my NST trade... I was aiming for 10% but missed out and wasn't going to hold over weekend. all the goldies except NST were down about 3% at that stage... didn't like the look on the 4H chart with the squeeze and thought a break down ws possible

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arty
post Posted: Nov 14 2014, 11:22 AM
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In Reply To: arty's post @ Nov 14 2014, 10:56 AM

Chart zoomed-in and reduced to the essential markers that show attempts and support zones:

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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
arty
post Posted: Nov 14 2014, 10:56 AM
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In Reply To: cooderman's post @ Nov 8 2014, 01:04 PM

Almost 3 years ago, I started a "weekly Trend Chart" of Spot Gold, marking the first 3 attempts to break support. According to Bartrade, who described it first here: http://bartrade.biz/trades/4th.htm , the 4th attempt will often succeed; if it does, a useful target is twice the previous range. Check out how BLD and HVN rallied after the examples given.

In the case of SPTGLD, the 4th attempt succeeded in April last year, and the pog fell indeed to the 200% level, where support was found in June last year. It appears that Low marks the first attempt of a new series. I am not quite certain whether the current attempt is still #3 or already the 4th, in the process of succeeding. If it's the latter, and if history repeats, we'll be in for another helluva drop, well below $1000/oz and possibly as low as $750/oz.
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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
 


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