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Gold, Discussion
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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flower
post Posted: Oct 20 2014, 06:22 PM
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In Reply To: flower's post @ Oct 9 2014, 01:35 PM

POG has nicely upwards in the last 10 days, but do not rule out one last sub USD1200 dumping. Next known catalyst will be the FOMC meeting in 10 days time. Chart looks good, spot USD1241, AUD1415.
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flower
post Posted: Oct 9 2014, 01:35 PM
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The last 48 hrs action in the gold market must make even the most ardent of gold haters wonder if they have been calling it correctly, tonight once again will be important.

Right now USD Gold and the best of the ASX gold producers look good, but major questions remain unanswered.


Did we see the absolute bottom for this move Monday/Tuesday @USD1183?

Is this current rise in the POG just short covering--or something entirely different--the start of another bull market in the yellow metal?


What the gold bulls need to see is more buying tonight in the US to confirm that something much upside larger is afoot.
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flower
post Posted: Oct 8 2014, 11:57 AM
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In Reply To: Mookie's post @ Oct 8 2014, 11:12 AM

QUOTE
Stating the same simplistic nonsensical information doesn't make it anymore correct than the first ill informed time you posted.

So your comment has now changed from the entire supply of gold being shut down to not making "much of a difference" and now if would result in "attractive prices". Yes your new statement does again qualify you in the next state the obvious competition. Congratulations.

If supply is zero and demand stays the same then prices will rise because a vast amount of gold is being held for other reasons than day trading. What you don't seem to realise is the mountains of gold being held are held for a reason. Once prices rise then speculators jump on board etc etc. Prices explode.

But I needn't have bothered because your entire reasoning in this regard is so flawed it's ridiculous. Right?


Don't waste your breath Mookie biggrin.gif

USD POG may take another sharp plunge before the market realises the FOMC are dreaming, when that turns out to be correct and the FED realises it cannot stop printing money much less increase US rates to effective positive---- gold will likely reassert itself as that final store of value it has occupied for centuries.

It will probably take another 2008 type event to bring that about, but that's the way we may be heading.



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wren
post Posted: Oct 8 2014, 11:45 AM
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In Reply To: Mookie's post @ Oct 8 2014, 11:12 AM

Gee mookie,you got me.That was some deep thinking,rivalling some of your best insights.
I think I hear the school bell ringing so perhaps you should run inside before you get into trouble and your mum confiscates your pocket money.

 
Mookie
post Posted: Oct 8 2014, 11:12 AM
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In Reply To: wren's post @ Oct 7 2014, 10:54 PM

wren

Stating the same simplistic nonsensical information doesn't make it anymore correct than the first ill informed time you posted.

So your comment has now changed from the entire supply of gold being shut down to not making "much of a difference" and now if would result in "attractive prices". Yes your new statement does again qualify you in the next state the obvious competition. Congratulations.

If supply is zero and demand stays the same then prices will rise because a vast amount of gold is being held for other reasons than day trading. What you don't seem to realise is the mountains of gold being held are held for a reason. Once prices rise then speculators jump on board etc etc. Prices explode.

But I needn't have bothered because your entire reasoning in this regard is so flawed it's ridiculous. Right?

 


wren
post Posted: Oct 7 2014, 10:54 PM
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In Reply To: wolverine's post @ Oct 7 2014, 08:17 PM

Bastard!Think I have one of yours.
http://www.artfakes.dk/meegeren.htm

 
wren
post Posted: Oct 7 2014, 10:49 PM
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In Reply To: mercury's post @ Oct 7 2014, 09:26 PM

Around someone's neck,in a vault etc

 
fraz2
post Posted: Oct 7 2014, 10:03 PM
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In Reply To: wren's post @ Oct 7 2014, 08:08 PM

A few facts about gold can be found here ph34r.gif ;

http://www.numbersleuth.org/worlds-gold/



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Our greatest glory is not in never falling, but in getting up every time we do.

Great minds discuss ideas. Average minds discuss events. Small minds discuss people.

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mercury
post Posted: Oct 7 2014, 09:26 PM
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In Reply To: wren's post @ Oct 7 2014, 08:08 PM

gold above ground....are you meaning gold already mined and around somebody's neck (etc)....or the alluvial stuff near the surface?
Merc

 
 


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