Justin Thyme

Trading in this stock's been halted at the issuer's request "pending information".

Wonder if the finalization of the Greek bailout will have any detrimental effect on gold ?

This should get you guys salivating. Dubai Crisis Gives China Chance to Buy Oil, Gold: Report http://abcnews.go.com/Business/wireStory?id=9205569

Guess investors are beginning to realize there are two safe-havens after all - one real, the other bogus.

I think Rick Santelli on CNBC explained the dollar oil-pricing issue perfectly. Along the lines of "If you had a hugely in-demand product that you'd been selling in a currency with fundamentals as flawed and unstable as the USD, wouldn't YOU be having secret meetings to find an alternative means of pricing it ?"

Dunno if this was posted somewhere else on the forum. Chinese news report on the government silver investment initiative. Applies to gold too, I think. Think i'll throw my lot in with the chinois

I reckon that if this was a clean out in the vein of the last breach of the $1000 level, then we'd be looking at a $980 number by now. The profit-taking's probably tachnically-led and I'm sure the buyers'll be back mid-week. Besides, I think it might be time for the Asian markets to have a go at runnin' this show for a bit . . .

Nice price action in gold but it appears to be happening on weak volume according to GLD chart.

Sub-$500 gold ? Get a grip ! Who was that GEI poster calling $400 a few months back ? Produced all sorts of weird and wonderful charts to support his waffle.

Well if it's a smackdown, it isn't much of one so far. The gimp anchors on CNBC are on their usual poo-poo-gold crusade. "Aw yeah, this gold play's a crowded trade an' as soon as there's a rally in stocks, I think we can expect a lotta money ta come outta gold". Notwithstanding the fact that they never say that crap about US Treasuries, it's worth noting that ever since Timothy Geithner unveiled his "plan" to save the banks, equities have been down, down, down and, moreover, there doesn't appear to be much in the way of positive newsflow to effect a reversal of that trend. I mean, come on; after two weeks of the market complaining about a lack of clarity in his plan, one would imagine that if Geithner had any idea of the details, he would've made them public by now if only to calm the markets. I could forgive this attitude from the anchors if it was being aimed at day-traders but let's face it, most of the guests they have on CNBC tend to have a long-term bias reflecting the nature of the audience. The fact is that EVERYTHING these anchors say is bullshit. That muppet, Bob Pisani, with his second-rate Mr Byrite double-breasted suits is the worst of the lot. I remember him standing their whining about the fact that no one was getting in to the financial stocks when they were sucking in TARP money. These anchors are nothing but salesmen - Rick Santelli excepted

Doubt it. If they could've smacked it, they would have done so long before we got so close to a grand, methinks. Having said that, there could be a few sell stops out there given the psychological figure and after what happened last March.

Now how did I know this thread would be buzzin' ? Thought we'd've had a sharp pullback but hey, I'm not complaining

. . . and the truth shall set them free

So you see fundamental justification for equities to rally 50% or more despite a recession, a debt-laden consumer and global monetary and fiscal policy aimed solely at devaluing fiat currencies ?

Hear, hear ! Gave up being concerned as soon as price in sterling blasted through £500. Who cares about the buck ? All this chop is largely irrelevant.

http://news.bbc.co.uk/nol/ukfs_news/hi/new...500/7799541.stm Dunno if this has been posted already but it's heavy sh*t ! Don't the Chinese have a huge presence in almost every market in Asia ?

I'm surprised the CRIMEX are able to have the significant effect they're having today given the Fed's stark admission that they're effectively going to throw everything at the reflation effort. Shouldn't this have been the news the gold market's been waiting for ?

Whilst I heartily welcome the rate decision insofar as my physical gold stash is concerned, I've got this sneaking suspicion that the aggressiveness of the Fed's action suggests there's something brewing that no one else knows about just yet. Too early for the rockets, though

er . . . yes . . . thru GM . . . What's the major problem here . . . they can't just nick it . . . can they ?

Agreed although I don't know if the hedgies etc have very much left to offload . . .

Quite. I certainly wouldn't base any entry point decisions on the imagination of a bloke on the internet. Having said that, ol' Philip Manduca at ECU reckons gold could pull back to as low as $650 as well. I presume he's based that on someone's imagination too but then again, he did blush when a Bloomberg presenter beat him over the head with his $80 oil price bottom call . . .

Not to slate Ker but, frankly, the levels he's talking about aren't going to happen. I still don't think technical analysis means as much in this environment . . . Others may have more "direct" comments given the failure of silver to collapse to the $6.60 he forecast recently

It was nice seeing silver ignore the traditional daily smackdown that gold got slapped with today. Just carried on going . . .

Hmm . . . If it transpires that the Citi does sleep after all, then I'd expect gold to sell-off. Don't get me wrong here - I'm not nailing my colours to Ker's mast here as I happen to think that TA is largely irrelevant in this more news-sensitive gold market. No, assuming the usual suspects actually have anything left to be forcibly sold, I think the drop is certain if only because gold has been one of the few winning plays in the commodities complex and because its price has been ironed out, big time, in recent forced-selling. Still, the nationalization of a hugely symbolic name like Citigroup's may just be enough to send the buck down to where it belongs. Pork scratchings and Babycham for everybody. Hurrah ! PS a cheeky buy stop entry on GBP/USD on a break of £1.53 for the next couple of days might be entered into my dusty old trading platform . . .

The WSJ just reported that Citigroup's been in talks with the Fed and the Treasury. Could be that, come Monday, we could be looking "Morgan Stanley-Citi" and another round of CDS auctions. Makes me think that Paulson didn't deploy the remaining $350bn of the TARP because he knew he was going to need it to nationalize Citigroup. If Citi goes over the weekend, gold might sell off a bit. Just heard that GM board members are "willing to consider Chapter 11 bankruptcy" . . .