gwizzie
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Posts posted by gwizzie
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Houston, this is Major Tom, i see you have decided to humiliate yourself in public again....
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Now that the US has started QE, people will come to realise that holding dollars is not the thing to do. China will stop buying their debt and start selling to buy commodities. Lots of US debt will now start returning to the US and they will have to ramp up the printing presses. How long till they announce the next $300 billion of QE?
$1000 has been a big barrier to get through and when it happens convincingly I don't think we will go back below. I know that James Turk is of the same opinion, and I have also noted that Ker is now predicting the same in his latest analysis. I think he is now spot on after his daft talk of $200.
This is just my opinion, not really based on anything in particular more a gut feeling than anything, so don't take my word for it
This is taken from Money & Markets newsletter by Martin Weiss today;
I dont think Bernanke had a choice in the QE. Perhaps thats the quantity of bonds which China wants to get rid of at the mo.
China are raising cash, they seem willing to sell when gold gets towards 1000
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I don't think we will see a big drop soon. I actually believe that has already happened from $1030 to $698.
I think when we go through £1000 next time (which will happen over the next month), we won't then come below it again.
The pound might have been better over the last couple of weeks, heading back to $1.50 now I think.
What makes you think this PX. I dont agree with you but i am interested in your thinking behind it.
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Hopefully lots of people attempting to trade gold today will have learned a valuable lesson.
Some will have been wiped out.
I dont understand what you are trying to say here, you need both buyers and sellers to make a market.
Wiped out?
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Just talked to my usual source who informed me that the gold bottom is in.
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Its really getting hammered, my screen is flashing so much i had to close it down!
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cue music...which one of these... looks like the other...
Last time we saw that pattern [same graph] look what happened.
Its going to need huge volume to breakout. Something catastophic. What isnt mentioned is that if the pattern fails does that mean the bull run is over?
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Hoping for 850.
I think thats a reasonable target, i fear it may get overshot though.
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Oh yes please!
I need more physical...Please let the sales go to 875.
There you go! Thats the spirit. Dont know if physical prices will nessessarily follow though.
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As I said yesterday..1000 is the line in the sand for the bankers. Could go sub 900 to shake out all the nervous nellies.
Bank stocks on a tear again.
Obama speech didn't do the trick, so they are hitting all markets at once, to try and please their Chinese masters who they are borrowing from.
This could go to 800, because of nervous nellies
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This is co-ordinated intervention in all markets and is a desperate, futile attempt to delay the inevitable.
The onrushing monetary holocaust is global, can't be halted and will result in the annihilation of the purchasing power of ALL national currencies, unprecedented contraction of economic activity, dramatic reduction of standards of living worldwide, mass revolts, breakdown of law and order, possibly war and certainly a return to the gold standard by popular demand.
This is all you need to know and is 100% correct, guaranteed, relentless and unavoidable.
You know what...that is the only thing out of all that list which i'm afraid of.
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Very quiet here today. How bout some music?
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I do take him seriously. His track record is superb. He was top Gold timer in 2008.
And this is one (of several) reasons I have been lightening up on Gold shares.
A drop from a double top to $500 cannot be ruled out.
And we are in the right season for a high in Gold, whatever the bulls have been saying.
I do agree with you regarding the correction but i dont think seasonality will have such an influence here because isnt it (seasonality) fueled by jewellery demand?.
This move in gold is fundamentally down to investment demand, this makes it even more dicey, fear and greed can turn a market before you realise what has happened.
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Can they lease it out?
can they or do they?
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Maybe the ETFs should publish the source of the gold so it can be verified.
The real issue here is ALL THE MINED gold in the world is not enough to keep up with demand from one EFT. That is huge demand and if it keeps up will drain all the gold ever mined into ETFs.
GLD do ----> Barlist. Theres about 88 bars in a tonne.
They go to great lengths to try and dispel the myth that they dont hold the gold they say they do.
Goldcorp alone produced about 20T of gold in 4thQ 2008 ( Thats just under the amount in the closest stack in the second picture)
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R U kidding?? These are nominal charts. Think how much inflation there has been since 1980. Think how much inflation there is/has been that is not yet showing in measures like CPI/RPI. Ask yourself, what else can you buy at the same prices as in 1980, except for gold? Houses? Cars? You must be kidding!
Barrell of oil?
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Eh? 3.00 and no smackdown yet?
I think we will be lucky to see 10M traded on GLD.
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I had no idea what the dandelion leaves meant, so you forced a google upon me.
"There is an engaging legend about the origin of the dandelion. Centuries ago, a miser found a pot of gold. He decided to bury it where no one else would find it. He took the gold home, placed it in a sack and went to bed. During the night a mouse gnawed a hole in the sack. The next morning the miser took the sack into the woods to bury it. He was unaware of the hole in the sack and the gold dropped out, coin by coin. When the miser realized this he retraced his steps, intending to pick up the gold coins. However, he found that the coins had been turned into beautiful yellow flowers and were rooted to the ground. The wood sprites had overheard his plan to bury the gold and to punish him for his selfishness they had turned the gold into dandelions for everyone to enjoy and share."
Is this why ?
Its rocket lettuce mate........
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No, Rand is doing nothing. Someone is withdrawing bars, that have incidently been produced by Rand. Most likely this is just cgnao cleaning out the vault. That is a complete Homer simpson moment on by part.
Looking at the "Doctors" position on the audit it couldnt be cgnao.....holding too much cash!
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I see Rand is withdrawing 50KG from bullionvaults London Vault.
Why would a refinery do that?
supply problems? fear of confiscation?
Let the speculation begin
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think your better off listening to Jack Sparrow . I dont particularly agree with him, but i do like to listen to what he has to say
GOLD
in Gold, FX, Stocks / Diaries & Blogs
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Yea i'd go with that. I have buy orders in at 845. This could take a run up to 927-933 (23.6) of the same move after that but also the 61.8 of the most recent move down from 965. i have sells in at 914 (50%) This might correspond to a pullback in the indices too, but they are closed for 3 days over the next week so i'm not expecting much fireworks though