gwizzie

we topped for today , this week will be all down in everything and up on the dollar, the big downday should be tomorrow.

good while it lasted. looks like we might finish around 742

$762.50 now, we appear to have broken the pennant to the upside. Is the short squeeze starting early?

circa 775 is my next target (38.2) and if it breaks you may see tears of joy from a grown man

Ker's pennant pattern is still valid and direction is still unconfirmed, and time is running out!!!.

Target down is circa 550 , if it breaks above i have a target range between 814-825

**cough**

That bloke from the World Gold Council says that any shortage of coins and selected bars is down to the spike in demand catching the mints unawares. Apparently these producers don't just run off loads of coins/bars and have 'em lying around on the shelf waiting for punters. Doesn't explain the disparity between COMEX and physical prices, though

Great point, the whole point of the futures market (as far as i understand) is to give producers a window where they can ramp up production to meet demand.

What would happen if the same thing occured with wheat or corn?

Did anyone see that program Friday evening about gold deposits in Northern Ireland? It featured info about N Irelands first commercial gold mine - first of many it would seem.

 

Northern Ireland has potentially the highest gold concentrated mineable reserves (still in the ground) than anywhere else in the world. Great boon for the British economy. Could eventually overtake South Africa as primary source.

hey....that sort of attitude got yous into trouble in the first place

I you are referring to the mine in Omagh its owned by Galantas There is planning issues with that mine and some unrest with the local populus.

If you are referring to the mine in Clontibret, that is owned by Conroy's...well thats in the Republic of Ireland old chap....and they managed to kick y'all out about 80 odd years ago

There is a surprising amount of resources and opportunities over here...... i may start a thread, i know there are a few other nornironders here

I fully agree that those who want to see gold as their insurance should continue to accumulate. I will do so too, but I see gold as more than just an insurance.

 

For the TA nerds: how about $666 as a turning point for gold? MUAHAHAHA!

yes i seen that

Are you sitting down GF.....bloomberg are bullish on gold

Colloidal silver

 

Silver is a very good anti-biotic but don't over do it, have a look at the Blue Man

WOW

no thanks, i'll give my bar the odd lick once in a while

Silver gold back down from 88 to 78 on this drop. Silver usually falls further. Bullish set up?

 

FWIW I was in TK Max today buying a dvet and they were selling this pilow cases made out of some thick fibre that had loads of silver particles in it that apparently help allergy sufferes. (Dust mites etc) . Interesting.

what a clever use

I heard a discussion on 5-live a while ago about silver being used in paint for hospitals, it was too expensive at the time

A quick google unearthed this

I also believe astronauts consume it...literally...for the same sort of antiseptic reasons

Looks like we will not be going to sleep tonight...

 

Need to stay awake especially at 10,11 and 12 tonight!

 

If 740 does not hold - I will need a change of pants (at least until retest at 715)....

If it hold around this level 732-736 it could be a good trade until circa $830....then you can get more new pants

what does everyone think are the chances of a double bottom at 740?

Yea i thought that linky

But i'm sticking with this chart and possible retracement levels....And that is a nasty head and shoulders pattern forming.

Sorry what do you mean?

I mean that the general trend is downward so a corrective move would be upward.

It depends which way you are looking at the market

Is anyone day trading this correction?

A move up is a correction at the moment.

$8.00 is break even point for a lot of mines ....apparently. I will try to remember where i got that info

If you look where the prices are consolidating, it may suggest the right cheek of a nice big juicy double bottom

How about a small scientific study:

 

I'll take some real but secret cuts from historical price movements across equities, bonds, markets, and the chartists can do their analysis type thing, and we'll see how close the results match actual movement?

 

Any takers, or doesn't it work in retrospect?

I think bubb tried that a while ago. May be more participants now

It's a rolling pin, apparently...

ouch

What buying opportunity?

 

On BV in Euros it's just sitting there with a wide spread 629 & 607

What is your avatar holding in her left hand?

Yeah it's a reverse of yesterday (silver up, gold down), just noise I think really don't think one day counts as decoupling.

Look at what i can only describe as a phase shift between gold (blue)and silver (black)

The big jump down in silver happened on the 15th of August

I was trying to find a correllation with something and i laughed at one of the funniest charts i have seen in a long time

Can you tell what it is yet?

Watching the PoG in both GBP and USD is an odd experience lately.

 

I haven't really been paying much attention to how much they follow each other (or don't), but it has felt almost like an immutable law that the price in these two currencies has drifted up and down more or less in tandem.

 

These days, though, there's a lot less correlation. At the moment, I'm just watching gold in the USD gently climbing, while in GBP it's falling -- at least according to BV's chart.

 

I don't really have any point to make... other than the disconnect just feels a bit... odd...

Sterling is strenghtening against the dollar

Fear of poverty driven?

Na you missed my point. Most did not become wealthy, but succeeded in their field of expertise. I would suggest they were/ are merit driven. Much like an artist or musician perhaps

Disagree with you on that one. I think people should put their money where there mouth is.

I knew i recognised you

But i agree with enrieb and i hold him in high regard along with Fred Harrison. Look at the great philosophers and scientists in history, were their goals wealth driven?

Looks like the 2 day long triangle converging on around $840 is due to pop before europe opens tomorrow.

Just for fun, I'm saying it's very likely to break upwards.

I'm not trading it, but does anyone want to wager an ounce of gold on it?

I dont like this movement. Looks like a possible megaphone or diamond top forming

Is it any wonder there is a shortage of coins

Watch the video. When the rolls of gold sheet are run through the cropper, there is about 60-70% of the sheet being wasted.

All they would have to do is slow it down a tad to maximise the usage.

I wonder is this typical production in a mint, if it is, there is scope for at least a 50% increase in the supply of coins

Add to this that there would be less wastage to re-process and the implications of the price weigh heavily on the downside.

Plus, i saw at least two guys scratchin their holes

They need someone like me to fill ma boots sort them out