Gatesy

I say again that although Ker is doing a lot of thinkin garound this the 200 week moving average is meaningless.

Still is a nice large flag formation. I wonder how big the flag pole and flag will be in 2 or 3 years?

Ker, although I don't disagree with your sentiment what relevance does the 200 week or 3.846 year moving average have...? I guess we can all choose a convenient looking MA to bounce off but this is a fooked up market right now and I have sold the dollar too early at least once already . Cheers DD

From what I can gather the world seems to think there'll be global cuts this week? BofE to cut a quarter or even a half.

Agreed, but we have also hypothesised on here before that those owning the gold (CB's) to be leased may want a higher return for leasing out their gold given perceived increased current (counterparty) risks.

Can you post the Lex comments, I don't have access but saw the paper today. Decent comments in first bit but then suggested jewellry demand in India had dried up, but quoting June figures. I'm pretty sure it's hit multi year records since then. Also suggested inflation was no longer a problem. Not well researched IMO.

yes, wondering if this is a good sell opportunity. The weekly RSI is well overbought. If a bail out goes through on Thursday surely negative again for USD.

So what does happen next? No bail out if it remained that way would presumably spell continued disaster for stock markets. Say for a moment the bail outs stopped here then, congress stops rubber stamping Paulson and Bernanke's plans. What of the fortunes for PM's? I suppose today has shown where gold holds it own as a crisis hedge; so stocks could plummet by 90% and gold retains or even marginally increases in value (something I proposed a few weeks back on the inflation/deflation thread). It's other role as an inflation hedge would presumably go out of the window as we really would have a deflation on our hands. But I think most here would argue that the bail outs won't stop, but they take a while to get through. So stock indices fall some more, gold stays rock steady, (as a crisis hedge), bail out's eventually come, stock indicies bounce ( a true dead cat bounce) but only a little, gold at this stage could take a hit as folk think the worst is over, but then the inflation from the bail outs really takes hold and gold starts it final up move without really pausing for breath. When does this all happen? I'm not sure at all but I suppose if I hold my gold I'll be alright ( I now think the inflation bit for gold will kick in 2nd half of 2009). Today's stability in gold did a great deal to dispel some of the doubts for me that I suspect many have had as to whether holding gold will pay off. As a relative newbie to gold (just over a year) and suffering the recent significant corrections within that year, doubts were easily created, but for me, now they are gone.

Fantastic piece. And there was me getting all complacent.

hmmmm. I'd put the comments in that article at about number 13-14 on the pompus prognosticators chart posted here the other day; scary.

Nice to see the likes of Minefinders, Kimber etc performing a bit better today, even with the pull back in G&S.

I certainly am looking for such opportunities. True to crooked form IG have removed all US treasury instruments from their platform and you can only day trade and roll over TLT. Rediculous but predictable. Must tell you somehting about where they think bonds are going. edit: Oh, and TLT is Unborrowable

What's the chances of a "retest of the lows" from here then? ps. I agree with many here, what a day yesterday. I found I had goose pimples for much of the day...

ETFS Conference Call - 'Commodity Securities Limited - trading status' Speaker: Graham Tuckwell, Chairman, ETF Securities Ltd Date: 18th September, Time: 11:00am London Time Date: 19th September, Time: 11:00am London Time Go to homepage to register (you have to be 'institutional')...

If you listen carefully to Channel 4 news tonight they said "gold is the only safe investment left in America"....that could get a few minds stirring.

I can't see the sell price but surely that's not "fair" if it's just a massive spread and you can;t sell at infalted prices too?

Did you see the move back up from 91 to 97 in the last hour or so?

I'd maybe prefer they keep the relationship with AIG seeing as it has uncle sams backing. Like Northern Rock, some advise putting cash in there now...

Excuse the off topic, but can any interested parties tell me what the hell Norway has done so wrong compared ot the UK in the last week. GBPNOK rocketing too this afternoon. As far as i know Norway have massive surpluses through trading gas. Gas has increased 5% this afternoon as well

After a pause for breath she's off again !

I take on board the cautionary notes in the above posts as well, but gold could be seen as having been strong these last few weeks holding the long term trend in the chart below (overshooting to the downside slightly) still one swallow does not make a summer. I feel there is a combo of factors apparently at play here. Nervousness re the system pushing up the lease rates and covering having to happen, feed into gold shares from the new anti-naked short statement. The only thing I;m not sure about is the effect on the bond market. i think I saw something earlier about lowest long yields since 1954 so they ahvenlt collased yet driving money into gold. It could be as you say RH, still to as fuel to the fire is money from currency panic and add to that money from bond panic. edit: or a decent porno...

Feels like today any oil strength is getting sold into whereas gold strength is getting bought feeding on itself?

over 50 buck now....

This and the gold/silver boost certainly feels like good news, but a millionaire footballer parking illegally is breaking the law, but is gettgin fined £30 a disincentive? ie. What will the real punishment be for breaking the law. ps wasn't it illegal already?

I took this as incredibly "weak dollar" talk. http://www.bloomberg.com/apps/news?pid=206...&refer=home Fed Keeps Rate at 2%, Rebuffing Call for Reduction Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to weigh on economic growth over the next few quarters,'' the FOMC statement said. ``Over time, the substantial easing of monetary policy combined with ongoing measures to foster market liquidity, should help to promote moderate economic growth.''